By Benjamin Spier, TAKEAWAY: Ge rman retail sales climb 1.7% on the year, but shrink -1.1% on the month -> Rising numbers can mean econ omic growth for the Eurozone -> Retail sales boost EUR/USD daily rally. German retail sales for the month of February grew by 1.7% when compared to the previous year, but fell by 1.1% in comparison to January’s numbers. The month over month figures beat analysts’ expectations, while the year over year fell short of the 0.1% growth expectation. Positive retail sales can be a sign of a growing economy. When compared to other European countries, Germany has over the past years enjoyed lower unemployment and lower inflation, which has translated to higher consumer confidence. The EUR/USD rose 13 points, and should continue to be monitored ahead of the two-day meeting of European finance ministers who will discuss the possibility of raising rescue funds.
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