The post German Retail Sales decline by 0.3% MoM in April vs. -0.4% expected appeared on BitcoinEthereumNews.com.
German Retail Sales, a key measure of consumer spending, declined again in April. The consumer spending measure fell 0.3% month-on-month (MoM), according to official data released by Destatis, while it was expected to have declined 0.4%. In March, Retail Sales dropped by 0.3% (revised from 2.0%) On an annualized basis, Retail Sales decreased 0.3%, compared to the prior release of a 0.2% decline (revised from 2.0%). Market reaction No immediate reaction was observed in the Euro (EUR) after the data release. As of writing, the EUR/USD pair is down 0.04% on the day at 1.1655. Euro FAQs The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a d
The post Euro strengthens against Canadian Dollar following German Retail Sales appeared on BitcoinEthereumNews.com.
EUR/CAD extends its gains for the second successive day, trading around 1.6110 during the European hours on Monday. The currency cross remains stronger following the release of German Retail Sales data, which fell 0.3% month-on-month (MoM), while it was expected to have declined 0.4%. In March, Retail Sales dropped by 0.3% (revised from 2.0%). On an annualized basis, Retail Sales decreased 0.3%, compared to the prior release of a 0.2% decline (revised from 2.0%). The broader Eurozone faces a complex inflationary environment. Flash data for May revealed that while price pressures slowed in Germany, inflation accelerated in France, Italy, and Spain, leaving all four nations well above the European Central Bank’s (ECB) 2% target. This sticky inflation, combined with recent ECB Meeting Minutes showing that some policymakers had already pushed for a rate hike in April, strong
The post Swiss Franc picks up from session lows following upbeat Swiss data releases appeared on BitcoinEthereumNews.com.
The Swiss Franc (CHF) holds moderate losses against the US Dollar (USD) on Monday, but has bounced up from daily lows, as Swiss Gross Domestic Product (GDP) and Retail Sales Figures pointed to a resilient economy in the face of the Iran war and the energy shock stemming from it. The USD/CHF pair trades at 0.7825 at the time of writing, after pulling back from session highs, near 0.7840. Data released by the Swiss Federal Statistics Office revealed that economic growth accelerated to 0.7% in the first three months of the year, beating expectations of a 0.5% gain, and following an upwardly revised 0.2% growth in Q4. Compared with the same quarter last year, however, economic growth slowed down to 0.5%, following a 1% advance in the previous quarter. Earlier on Monday, Swiss Retail Sales data also beat expectations with a 1.6% yearly growth in April, well above market
The post Euro holds losses against British Pound after Germany’s Retail Sales data appeared on BitcoinEthereumNews.com.
The EUR/GBP cross trades in negative territory near 0.8655 during the early European trading hours on Monday. The Euro (EUR) remains weak against the British Pound (GBP) following the upbeat German Retail Sales data. The preliminary reading of the Harmonized Index of Consumer Prices (HICP) from the Eurozone will be released on Tuesday. Data released by Destatis on Monday showed that German Retail Sales, a key measure of consumer spending, fell 0.3% MoM in April. This figure followed a fall of 0.3% (revised from -2.0%) and came in better than the market expectation of a 0.4% decrease. On an annualized basis, Retail Sales dropped 0.3% in April, versus the prior release of a 0.2% decline (revised from -2.0%). The German economic data fails to boost the EUR in an immediate reaction. On the UK’s front, BoE governor Andrew Bailey said on Friday that the UK central bank
The post Germany Retail Sales (MoM) came in at -0.3%, above expectations (-0.4%) in April appeared on BitcoinEthereumNews.com.
Gold edges lower during the Asian session on Monday and moves further away from a two-week high, around the $4,600 neighborhood, touched on Friday. The US Dollar regains positive traction at the start of the new week amid persistent geopolitical uncertainties and hawkish US Federal Reserve (Fed) expectations, which, in turn, is seen acting as a headwind for the commodity. Source: https://www.fxstreet.com/news/germany-retail-sales-mom-came-in-at-03-above-expectations-04-in-april-202606010600
The post Germany Retail Sales (YoY) increased to -0.3% in April from previous -2% appeared on BitcoinEthereumNews.com.
Gold edges lower during the Asian session on Monday and moves further away from a two-week high, around the $4,600 neighborhood, touched on Friday. The US Dollar regains positive traction at the start of the new week amid persistent geopolitical uncertainties and hawkish US Federal Reserve (Fed) expectations, which, in turn, is seen acting as a headwind for the commodity. Source: https://www.fxstreet.com/news/germany-retail-sales-yoy-increased-to-03-in-april-from-previous-2-202606010600
The post 51.8: China’s RatingDog Manufacturing PMI beats estimates in May appeared on BitcoinEthereumNews.com.
China’s RatingDog Manufacturing Purchasing Managers’ Index (PMI) declines to 51.8 in May from 52.2 in April the latest data published by RatingDog showed on Monday. The market forecast was for a 51.4 reading. AUD/USD reaction to China’s PMI data At the time of writing, the AUD/USD pair is trading around 0.7183, up 0.01% on the day. (This story was corrected on June 1 at 01:50 GMT to say China’s RatingDog Manufacturing Purchasing Managers’ Index (PMI) declined to 51.8 in May from 52.2 in April, not rose). Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in
Bitcoin (BTC) regained the $73,000 level on Friday after earlier dipping to $72,500 earlier in the day for the first time since April. While the rebound may look like a quick recovery on the chart, market analyst J.A. Maartun said the bigger story is what the data shows about selling pressure underneath the surface. In […]
