The Euro zone retail sales fell 2.9% year-on-year in November, notably worsening the expected 0.8% rise and the 4.2% increase (revised from 4.3%) seen in October. This is the first drop seen by the indicator since July and the sharpest since last May.
Monthly retail sales are down 6.1% in November compared to the expected 3.4% drop. The October data registered a rise of 1.4% (revised from 1.5%). This is the worst result seen in the indicator since last April.
EUR / USD reaction
He EUR/USD It has fallen to day lows minutes before the indicator was released, hitting a two-day bottom at 1.2264. At time of writing, the pair is trading above 1.2271, shedding 0.43% on the day.
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