BREAKING: EUR gains in spite of German retail sales miss

German retail sales report for April was released today at 7:00 am BST. Data was expected to show a small dip in monthly retail sales and a strong 2.5% year-over-year growth. However, actual report turned out to be a disappointment, showing deeper monthly drop and smaller annual growth.

German retail sales for April

• Annual: 1.8% YoY vs 2.5% YoY expected (0.3% YoY previously)
• Monthly: -1.2% MoM vs -0.3% MoM expected (+1.8% MoM previously)

In spite of a miss in German data, EUR and European index futures gained slightly. However, scale of the moves was barely noticeable with both EURUSD and DE40 gaining less than 0.1%.

Source: xStation5