Forexpros – Retail sales in the euro zone rose more-than-expected in October, official data showed on Monday.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.4% in October, beating expectations for a 0.1% increase.
The previous month’s figure was revised to a drop of 0.6% from a previously reported 0.7% decline.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 0.4% in October, after dropping at a rate of 1.4% in September and better-than-expectations for a 0.8% drop.
Following the release of the data, the euro extended gains against the U.S. dollar, with EUR/USD climbing 0.46% to trade at 1.3454.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.3%, France’s CAC 40 rose 1.2%, the FTSE 100 added 0.55%, while Germany’s DAX gained 0.8%.
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