German Retail Sales jump by 4.2% MoM in May vs. 5.0% expected, EUR/USD in lows

German Retail Sales jumped by 4.2% MoM in May vs. 5.0% expected.

Dhwani Mehta FXStreet

Retail Sales fell by 2.4% YoY in May vs. 10.1% expected.

According to the latest data reported by Germany’s Destatis on Thursday, the country’s Retail Sales rebounded 4.2% MoM in May versus 5.0% expected and -5.5% last.

On an annualized basis, the German Retail Sales came in at -2.4% in May versus 4.4% seen in April and 10.1% expected.

FX implications

EUR/USD hits fresh three-month lows of 1.1839 on downbeat German Retail Sales data. The pair is down 0.11% on the day.

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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