German Retail Sales jump by 4.2% MoM in June vs. 2.0% expected, EUR/USD in highs

German Retail Sales jumped by 4.2% MoM in June vs. 2.0% expected.

Dhwani Mehta FXStreet

Retail Sales rebounded by 6.2% YoY in June vs. -2.4% previous.

According to the latest data reported by Germany’s Destatis on Monday, the country’s Retail Sales rose by 4.2% MoM in May versus 2.0% expected and 4.2% last.

On an annualized basis, the German Retail Sales came in at 6.2% in June versus -2.4% expected.

FX implications

EUR/USD trades at daily highs of 1.1875 on upbeat German Retail Sales data. The pair is almost unchanged on the day, having recovered the Asian losses.

About German Retail Sales

The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth usually anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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