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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 rose for the first time in seven months in April, following a 0.1% (revised) decrease in the previous month. From one year ago, retail sales are down 2.3%.
On a monthly basis, the April release was pulled higher by the food, drinks and tobacco sub-index, which rose 1.1%, while the non food sector declined 0.2%. From one year ago, the food, drinks and tobacco sub-index is down 1.2%, while the non food index fell by 2.5%.
“Retail sales were on a constant rise since 2000, but now the index is falling at a substantial pace. In April retail sales rose for the first time in seven months, but it still to early to confirm if the trend has reversed.” TheLFB-Forex.com Trade Team said
Forex Technical Reaction: The euro was unmoved by the release. The pair advanced about 80 pips during the overnight session, but throughout the European session, the pair traded in a tight 30-pip range.
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