Euro-Area Retail Sales | ForexGen

Euro-area Retail Sales Actual , Expected 0.0%, Previous -0.9% (revised from -0.6%)
Release Explanation: Measures the value of sales at the retail level. A currency will be impacted by this report over time as it reveals the strength of the public in their ability, or desire, to spend.

Trade Desk Thoughts: The volume of retail trade was down by 0.4% in July, lower than analyst expectations, while sales were down by 2.8% from last year. Last month’s number of -0.6% was revised lower to -0.9%. The largest decrease was seen in the food, drinks and tobacco sub-index, which declined 0.9% from last month and by 3.4% from one year earlier.

Forex Technical Reaction: The two releases helped the euro extend its losses seen during the overnight session. The pair has fallen more than 130 pips and is now testing TheLFB S2.