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  • German Retail Sales increased by 1.2% MoM in February vs. +2.0% expected.
  • Retail Sales plunged 9.0% YoY in February vs. -6.3% expected.

According to the latest data reported by Germany’s Destatis on Thursday, the country’s  Retail Sales  rose by 1.2% MoM in February versus +2.0% expected and -4.5% last.

On an annualized basis, the German Retail Sales came in at -9.0% in February versus -8.7% seen in January and -6.3% expected.

FX implications

EUR/USD keeps its range above 1.1900, as the shared currency ignores the downbeat German Retail Sales data.

At the time of writing, the major drops 0.11% to trade at 1.1716, as the US dollar regains control across the board.

About German Retail Sales      

The  Retail Sales  released by the  Statistisches Bundesamt Deutschland  is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth usually anticipates “Bullish” for the EUR, while a low reading is seen as negative, or bearish, for the EUR.