Eurozone Retail Sales Jump in October, Keeping the Euro Bullish - Forex News by FX Leaders
Retail sales jumped in October, but should come down in November

Eurozone Retail Sales Jump in October, Keeping the Euro Bullish

Posted Thursday, December 3, 2020 by
Skerdian Meta • 1 min read

Retail sales were already quite volatile in Europe last year, as the global economy was weakening. They dived hard in March/April as the continent shut down and when the grand reopening took place in summer we saw some strong figures. But, that didn’t last long and retail sales have turned volatile again, turning from negative to positive from one month to another. The previous report showed a 2% decline in September, while today’s report showed a 1.5% jump higher.

Latest data released by Eurostat – December 3, 2020

  • October retail sales +1.5% vs +0.7% m/m expected
  • September sales were -2.0%; revised to -1.7%
  • Retail sales YoY +4.3% vs +2.6% expected
  • Prior sales YoY were +2.2%; revised to +2.5%

But it seems like retail sales activity jumped in October, ahead of tighter restrictions implemented from November onward, the remainder of Q4 may yet see more subdued consumption activity. So, that’s more relevant to market sentiment than the beat above. The EUR/USD reversed higher again after this report, keeping its bullish bias as it marches above 1.21.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles

Leave a Reply

Notify of