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Eurozone Retail Sales declined more than expected

Wednesday, Apr 08 2015
In February 2015 compared with January 2015, the seasonally adjusted volume of retail trade fell by 0.2% in the euro area. Analysts were forecasting 0.1% decline. In February 2015 compared with February 20144 the retail sales index increased by 3.0% in the euro area.
 
 
The 0.2% decrease in the volume of retail trade in the euro area in February 2015, compared with January 2015, is due to falls of 0.8% for “Food, drinks and tobacco” and of 0.4% for automotive fuel, while the non-food sector rose by 0.1%. 
 
Data did not have any major impact on the markets with euro currently being traded around 1.0840 area. Pair is likely to find support around 1.08 handle and resistance above 1.0880 level. Later today, in the US session, FOMC Meeting Minutes are scheduled for a release.
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