Market Updates: German Retail Sales Disappoint Again

Posted Tuesday, July 2, 2019 by
Arslan Butt • 1 min read

As per Destatis release, the provisional data turnover of retail sales disappointed for another month, placing bearish pressure on EUR/USD.

Back in May 2019, real term retail sales stood at 4.00% vs., 4.8% retail sales in May 2018. In fact, the number of days used to calculate retail sale for May 2019 was 25 vs. 24 in May 2018.

Compared with the prior year, retail trade in the first five months of 2019 in real terms were 2.8% and nominal terms 3.5%, higher than in the corresponding time of the preceding year.

Overall, the retail sales dipped by -0.6% missing the 0.5% forecast for May 2019. EUR/USD is facing slight weakness, as most of the traders still trade the G20 outcome.

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