In July, Germany's retail sales increased 1.9% year over year.
The data keeps the EUR/USD under pressure around 1.1660.
Destatis announced official data on Friday showing that retail sales in Germany increased 1.9% year-over-year (YoY) in July after a 4.9% increase in June.
A 2.6% increase was anticipated by the market.
Monthly, retail sales fell 1.5% in July as opposed to 1% gain in June and an expected -0.4% decline.
Reaction of the market
The Euro (EUR) is not significantly impacted by this data. The EUR/USD exchange rate is currently trading at 1.1666, down 0.15% for the day.
Today's Euro Price
An Overview of German Retail Sales
On Friday at 6:00 GMT, the Retail Sales data will be released by Destatis, the German Federal Statistics Office.
Compared to the preceding growth of 4.9%, Germany's retail sales are predicted to climb by 2.6% year-over-year (YoY) in July. In the meanwhile, after rising by 1.0% in July, monthly retail sales are predicted to fall by 0.4%.
How might the EUR/USD be impacted by German retail sales?
Ahead of the German retail sales, the EUR/USD is closing up its three-day gaining streak and staying in the 1.1700–1.1650 region. As the US Dollar recovers from profit-taking ahead of the July release of the US Personal Consumption Expenditures (PCE) Price Index, the pair remains under selling pressure. Next on the agenda are preliminary inflation figures from Germany.
The EUR/USD pair may move toward the 1.1700 round mark if German consumer expenditure increases more than anticipated. A challenge of the monthly high at 1.1742 would be possible if there was a breakout above this level, which would increase the short-term price momentum. The pair might attempt the first support at the 50-day Exponential Moving Average (EMA) of 1.1607, though, if the print is weaker. Additional drops might break the medium-term momentum and push the pair closer to the critical 1.1500 level.
The data keeps the EUR/USD under pressure around 1.1660.
Destatis announced official data on Friday showing that retail sales in Germany increased 1.9% year-over-year (YoY) in July after a 4.9% increase in June.
A 2.6% increase was anticipated by the market.
Monthly, retail sales fell 1.5% in July as opposed to 1% gain in June and an expected -0.4% decline.
Reaction of the market
The Euro (EUR) is not significantly impacted by this data. The EUR/USD exchange rate is currently trading at 1.1666, down 0.15% for the day.
Today's Euro Price
An Overview of German Retail Sales
On Friday at 6:00 GMT, the Retail Sales data will be released by Destatis, the German Federal Statistics Office.
Compared to the preceding growth of 4.9%, Germany's retail sales are predicted to climb by 2.6% year-over-year (YoY) in July. In the meanwhile, after rising by 1.0% in July, monthly retail sales are predicted to fall by 0.4%.
How might the EUR/USD be impacted by German retail sales?
Ahead of the German retail sales, the EUR/USD is closing up its three-day gaining streak and staying in the 1.1700–1.1650 region. As the US Dollar recovers from profit-taking ahead of the July release of the US Personal Consumption Expenditures (PCE) Price Index, the pair remains under selling pressure. Next on the agenda are preliminary inflation figures from Germany.
The EUR/USD pair may move toward the 1.1700 round mark if German consumer expenditure increases more than anticipated. A challenge of the monthly high at 1.1742 would be possible if there was a breakout above this level, which would increase the short-term price momentum. The pair might attempt the first support at the 50-day Exponential Moving Average (EMA) of 1.1607, though, if the print is weaker. Additional drops might break the medium-term momentum and push the pair closer to the critical 1.1500 level.
