1.3%: Germany’s Retail Sales rise by less than expected in August
German Retail Sales, a key measure of consumer spending, showed an upside in August. The consumer spending measure rose 1.3% month-on-month (MoM), according to official data released by Destatis, while it was expected to have increased 2.0%. In July, Retail Sales arrived at -3.4%.
On an annualized basis, Retail Sales declined 0.4% in August compared to the prior release of a fall of 2.5%.
Market reaction
The Euro (EUR) edges slightly higher following the Germany’s Retail Sales release. As of writing, the EUR/USD pair is up 0.07% on the day at 1.1348.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Dow Jones futures advance as Fed rate hike expectations cool
U.S. Stock Market Moves | GameStop rises 1.4% pre-market as CEO buys back shares
The market awaits PCE, US stock index futures rise, 10-year US Treasury yield edges down, Brent crude drops 1%, gold stands above 4200.
Dow Jones futures rose 0.5%, S&P 500 futures increased by 0.3%, and Nasdaq 100 futures were up 0.2%. The yield on the 10-year U.S. Treasury note edged down slightly to 5.21%. Brent crude oil fell 1.0% during the day to $95.18 per barrel. Spot gold climbed above $4,200 per ounce, rising 0.44% on the day.
Update 2 - UK Greggs raises profit forecast but plans to close some factories
