Mixed Results For German Retail Sales

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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Original Article: http://www.dailyfx.com/forex/market_alert/2012/03/30/Mixed_Results_for_German_Retail_Sales.html

DailyFX is the forex news and research arm of FXCM (NYSE: FXCM), which provides currency trading and brokerage services and is an advertiser on TheStreet websites. Any opinions, news, research, analyses, prices, or other information is provided as general market commentary, and does not constitute investment advice. Dailyfx will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Currency trading involves significant risk of loss. Individual authors may hold positions in the currencies discussed in the article.