Euro zone retail sales rise more-than-expected in April

Forex Pros – Retail sales in the euro zone rose more-than-expected in April, advancing for the first time in three months, official data showed on Tuesday.

In a report, Eurostat said retail sales rose by a seasonally adjusted 0.9% in April, after falling by 0.9% in March, whose figure was revised from a decline of 1.0%. 

Analysts had expected retail sales to rise by 0.3% in April.

The report showed that year-on-year, retail sales rose significantly more-than-expected in April, increasing at an annualized rate of 1.1%, falling 1.7% in March, surpassing expectations for 0.2% gain.

Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.69% to hit 1.4677.

Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 climbed 0.65%, France’s CAC 40 added 0.6%, the FTSE 100 gained 0.45%, while Germany’s DAX advanced 0.75%.

ForexPros.com