Retail Sales measures the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
The Euro Zone Retail Sales fell 0.0%, from 0.6% in the previous month, the indicator was expected to fall to -0.6% in the last month.
(Year-Over-Year) Retail Sales fell 2.3%, from 3.0% in the previous month passing forecast of 1.8%.
Technical view: As long as 1.1193 support holds on a daily closing basis, the EURUSD remains in a recovery mode and further upside couldn’t be ruled out, but any upside move above the 1.1193 levels should be limited by the 1.1295/1.1330 levels,sustained breakout above the 1.1330 levels will pave the way towards the 1.1460/1.1515 levels.On the downside, below 1.1193 will open 1.1117 levels. Conclusion : The EURUSD continues to face upside threats in the short term above the 1.1193/1.1208 levels.
Market Impact: This development should advance the EURUSD for retesting the key restlessness 1.1295/1.1330.