German Retail Sales measures the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It is the primary indicator of consumer spending, which accounts for the majority of economic activity.
Usual Effect: A high reading or a better than expected number is seen as positive for the EUR, while a low reading is negative.
Frequency: Released monthly, about 30 days after the month ends.
Last Read :1.5%
Expectations : -1.0%
Actual : -3.2%
Volatility : Medium
Market Impact :A reading between 1.5% : – 3.5% will bring sideways move with risk to break lower.
Technical Outlook : Intraday outlook in EURUSD remains on the downside as long as resistance 1.2630 holds on a 4 hour closing basis , support at 1.2546 levels ,a cut will open 1.2470 levels ahead of the 1.2370 levels , a clear break above the 1.2630 will turn outlook neutral towards the 1.2685/1.2725 levels .
Support and resistance : 1.2300 , 1.2375 , 1.2475 , 1.2545 , 1.2630 , 1.2685 , 1.2725 , 1.2770
Strategy : Sell at rebound …
Today , Focus will be on the high importance EURO zone CPI (YoY) (Oct) , at 10:00 GMT