Release Explanation: Measures the value of sales at the retail level. “A currency will be impacted by this report over time as it reveals the strength of the public in their ability, or desire, to spend” TheLFB-Forex.com Trade Team members said.
TheLFB-Forex.com Trade Team Thoughts: Retail sales in the Euro-area declined for a second month in March, following a 0.3% decrease the previous month. From one year ago, retail sales are down 4.2% in March, the largest drop since records first started.
On a monthly basis, the March release was pulled lower by the food, drinks and tobacco sub-index, which fell 1.4%, while the non food sector gained 0.2%. From one year ago, the food, drinks and tobacco sub-index is down 5.2%, while the non food index fell by 1.9%. “Retail sales were on a constant rise since 2000, but now the index is falling at a substantial pace. In March, retail sales fell to the 2005 level” TheLFB-Forex.com Trade Team said
Forex Technical Reaction: The euro was unmoved by the release. The euro is currently trading near the Wednesday open price, after falling to TheLFB S1 during the overnight session.