Eurozone retail sales for August 2023:
- 2,1% y/y vs -1% exp. and -1% previously
- -1,2% m/m vs -0,5% exp. and -0,2% previously
PPI reading y/y: 11,5% vs 11,6% exp. and -7,6% previously
PPI reading m/m: 0,6% vs 0,6% exp. and -0,5% previously
Looking at EURUSD we can see that EUR contintue to strenghten today however much weaker retail sales in eurozone suggests 'recessionary' dynamic in consumer sentiments. PPI data came in line with expectations.
Source: xStation5
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