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German Retail Sales down by 0.4%

Monday, Nov 30 2015
According to provisional results of the Federal Statistical Office (Destatis), retail turnover in October 2015 in Germany increased 2.1% in real terms and 2.4% in nominal terms compared with the corresponding month of the previous year. The number of days open for sale was 26 in October 2015 and 26 in October 2014, too. 
When adjusted for calendar and seasonal variations, the October turnover was in real terms 0.4% smaller and in nominal terms equal to that (0.0%) in September 2015. Analysts were forecasting 0.3% increase. Compared with the previous year, turnover in retail trade was in the first ten months of 2015 in real terms 2.8% and in nominal terms 2.7% larger than in the corresponding period of the previous year.
 
Euro is currently being traded around 1.0570 area. Pair is likely to find support around 1.0550 handle and resistance above 1.06 level. Later today, in the US session, Chicago PMI and Pending Home Sales are scheduled for a release.
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