About 11:00 markets were affected by readings from Eurostat concerning retail sales in the euro zone for December 2016. The consensus forecast increase of 0.3% on a monthly basis, and so he was optimistic compared to the previous reading at a negative level of -0.4 %.
Finally, retail sales in the ratio m/m once again decreased, this time by 0.3% and the previous reading was also revised down to -0.6%.
We met also data on an annual basis. At previous publication, which showed a growth of 2.3% (revised up to 2.5%), this time the expected reading was 1.8%. Market expectations didn’t comply with reality and in relation y/y retail sales rose by only 1.1%.
All data are seasonally adjusted.
The situation on the EURUSD
Currency pair EURUSD corrects yesterday’s growth, where highs were established at the level of 1.0828, which can be seen well in the H1 chart. Today’s reading for retail sales has not affected so far EURUSD.
The pair is in the area of support and if the decline from yesterday’s high are to be continued, it is likely that will be tested the low from Wednesday at 1.07285. Larger movements can be expected at 14:30 when will be published data from the US labor market.
Test account with a broker binary options uTrader! Click here to invest
Binary options broker uTrader offers a return. If you win your account will increase by a percentage of the invested amount. If you lose, regardless of the size of the defeat, you never lose more than you bet.
