German Retail Sales plunge 5.6% MoM in March vs. -7.3% expected, EUR/USD unmoved
- German Retail Sales plunged 5.6% MoM in Mar vs. -7.3% expected.
- Retail Sales dropped 2.8% YoY in Mar vs. +1.5% expected.
According to the latest data reported by Germany’s Destatis on Thursday, the country’s Retail Sales arrived at -5.6% MoM in March versus -7.3% expected and +0.8% last.
On an annualized basis, the German Retail Sales came in at -2.8% in March versus +6.5% seen in February and +1.5% expected.
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.
FX implications
EUR/USD keeps losses around 1.0860, as the shared currency shrugs-off a sharp drop in the German Retail Sales for March. The spot hit a low of 1.0852 in early Asia amid a broad-based US dollar rebound on renewed US-China trade jitters.
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.
