Germany’s Retail Sales fell 1.6% MoM in December, compared to a 2.5% decline in November, according to the latest data published by Destatis on Wednesday. The market forecast was for a 0.7% increase.
Retail Sales in the Eurozone’s economic powerhouse declined 1.7% YoY in December versus a 2.4% annual fall seen in November.
EUR/USD reaction to the German data
The Euro is testing lows against the US Dollar, with the EUR/USD pair losing 0.22% on the day to trade at 1.0815, as of writing.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.25% | 0.21% | 0.15% | 0.50% | 0.34% | 0.34% | 0.24% | |
| EUR | -0.25% | -0.04% | -0.09% | 0.27% | 0.10% | 0.09% | 0.01% | |
| GBP | -0.20% | 0.04% | -0.05% | 0.30% | 0.14% | 0.14% | 0.05% | |
| CAD | -0.14% | 0.11% | 0.04% | 0.34% | 0.20% | 0.19% | 0.10% | |
| AUD | -0.49% | -0.24% | -0.29% | -0.34% | -0.14% | -0.15% | -0.24% | |
| JPY | -0.34% | -0.10% | -0.16% | -0.20% | 0.18% | -0.03% | -0.10% | |
| NZD | -0.34% | -0.05% | -0.14% | -0.18% | 0.14% | 0.02% | -0.11% | |
| CHF | -0.23% | 0.01% | -0.04% | -0.09% | 0.26% | 0.11% | 0.11% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
About German Retail Sales
The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Positive economic growth is usually anticipated as “bullish” for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
Source: https://www.fxstreet.com/news/german-retail-sales-drop-17-yoy-in-december-vs-24-previous-202401310704