Eurozone Retail Sales unexpectedly rise in March; France and German boost data
The European Union’s statistics office announced an increase of 0.3% in Eurozone Retail Sales m/m against expectations for a flat number compared to -0.1% previously. On a yearly basis, Retail Sales came out at -0.2% versus -1.1% expected from -2.1% on the last release.
Part of this improvement was helped by a lower unemployment rate in Germany that pushed consumption. On the other hand, Spanish and Italian government’s efforts through budget cuts to reduce their budget gaps have contributed to a recovery in sentiment.
This macro economic data had little impact on the EUR/USD pair.
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