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Release Explanation: Retail sales are a very important set of figures that make up a large percentage of consumer spending numbers. ”Retail sales are the measure of the total sales of goods and services by retail stores. Retail Sales is an important measure of consumer spending and inflationary pressures,” TheLFB-Forex.com Trade Team members said.
TheLFB-Forex.com Trade Desk Thoughts: German retail sales increased 0.5% in April, seasonally adjusted, pulled higher by the Easter Holiday. In real terms however, German retail sales continued to decline, falling another 0.8% in April.
“The German release shows that consumption is slowing in Europe’s biggest economy, and this will certainly have a drag on the quarterly numbers. From one year ago, German retail sales decreased by 2.4% in nominal terms,” TheLFB-Forex.com Trade Team members said
Forex Technical Reaction: The euro is trading just below TheLFB R1 (1.4015), after it gained almost 80 pips during the overnight session.
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