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German Retail Sales rose in July

Monday, Aug 31 2015
According to provisional results of the Federal Statistical Office (Destatis), retail turnover in July 2015 in Germany increased 3.3% in real terms and 3.1% in nominal terms compared with the corresponding month of the previous year. The number of days open for sale was 27 in July 2015 and 27 in July 2014, too. 
 
When adjusted for calendar and seasonal variations (Census-X-12-ARIMA), the July turnover was in real terms 1.4% and in nominal terms 1.3% larger than in June 2015.  Compared with the previous year, turnover in retail trade was in the first seven months of 2015 in real terms 2.6% and in nominal terms 2.5% larger than in the corresponding period of the previous year.
 
Euro is currently being traded few points above 1.1220 level. Pair is likely to find support around 1.1150 handle and resistance above 1.1260 area. Later today, Eurozone CPI figures are scheduled for a release.
 
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