Eurozone Retail PMI up to 48.9

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Thursday, Aug 04 2016

Latest Markit Eurozone Retail PMI survey data showed the continuation of contrasting trends in sales performance across the bloc’s big-three retail sectors, with a further sharp drop in sales in Italy offsetting steady growth across Germany and France.

At 48.9 in July, the headline Markit Eurozone Retail PMI was below the neutral 50.0 mark for the fourth time in the past five months in July, signalling a further, albeit slightly slower (48.5 in June), drop in sales. Measured on an annual basis, the rate of decline was slightly faster than that recorded in June.

Euro is currently being traded around 1.1130 area. Pair is likely to find support around 1.11 handle and resistance above 1.1150 level.

More in this category: « Australian Retail Sales rose by 0.1% RBA points the outlook for the currency and China as key uncertainties »

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