German Retail Sales down, unemployment unchanged

Thursday, Mar 31 2016

Retail turnover in February 2016 in Germany increased in real terms and in nominal terms (also) 5.4% compared with the corresponding month of the previous year. The number of days open for sale was 25 in February 2016 and 24 in February 2015. When adjusted for calendar and seasonal variations the February turnover was in real terms and in nominal terms 0.4% smaller than that in January 2016. Analysts were predicting increase by 0.3%.

The number of unemployed people in Germany was unchanged in March, while the unemployment rate held steady at an all-time low, official data showed on Thursday. In a report, Germany's Federal Statistics Office said the unemployment rate was unchanged at a seasonally adjusted 6.2% in March, in line with analyst expectations.

The number of unemployed people was flat in March from a month earlier, disappointing forecasts for a drop of 7,000. Jobless claims fell by 9,000 in February, whose figure was revised from a previously reported decline of 10,000.

Separate report on Spanish CPI, Consumer price inflation in Spain rose less-than-expected last month, official data showed on Thursday. In a report, Instituto Nacional de Estadistica said that Spanish CPI rose to 0.6%, from -0.4% in the preceding month. Analysts had expected Spanish CPI to rise 0.7% last month.

Euro is currently being traded few points below 1.1340 level. Pair is likely to find support around 1.13 handle and resistance above 1.1380 level. Later today, in the US session Unemployment Claims and Chicago PMI figures are scheduled for a release.

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