• Eurozone Retail Sales came in at -0.2% MoM in July vs. -0.2% expected.
• Retail Sales in the bloc arrived at -1.0% YoY in July vs. -1.2% expected.

Eurozone’s Retail Sales dropped 0.2% MoM in July, as against an increase of 0.2% in June, the official data published by Eurostat showed on Wednesday. The market consensus was for a -0.2% reading.

On a yearly basis, the bloc’s Retail Sales fell 1.0% in July versus -1.0% booked in June and -1.2% expected.

FX implications

The Euro is little affected by the upbeat Eurozone consumer spending data. At the time of writing, the major is trading at 1.0733, up 0.11% on the day

About Eurozone Retail Sales

The Retail Sales released by Eurostat are a measure of changes in sales of the Eurozone 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. Usually, positive economic growth anticipates "Bullishness" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.