Germany’s retail sales report for March showed an 0.8% (m/m) increase. They also gained 2.3% y/y. Even though the m/m readings were slightly poorer than expected, they recovered from a 0.9% decline seen a month before.
The retail sales grew mainly due to lower unemployment, easier inflation pressure and personal income growth.
According to Dekabank experts, the current situation in Germany’s retail sales sector is favorable. Consumers are getting less worried about the unemployment and are willing to spend more.
It should be noted that a record decline in the rate of unemployment (down to the 20-year low) and good economic performance let the German authorities increase salaries and wages in the public sector.
Forex.
According to the DFWA Department of , EURUSD is forming a major upswing. A retracement is expected within days. However, it is too risky to go bearish as the market is getting uncertain and volatile. For now, the best way to trade EURUSD is to go bullish after major retracements.
