Eurozone retail sales data

• Retail sales (y/y) (May), fact 1.3%, forecast 1.6%.
• Retail sales (m/m) (May), fact -0.3%, forecast 0.4%.

Retail sales in the eurozone slowed down for the fourth consecutive month, creating a downward trend in this indicator and exacerbated consumer concerns. It also indicates a slowdown in consumer inflation and economic development.

Fig. 1. Eurozone Retail Sales Chart (m/m)

On weak data for the euro area, we can expect additional pressure on the single currency. In the context of market restraint, the decline in the euro will be limited to the existing trading range. Support levels for the pair EUR/USD: 1.1270 and 1.1260, resistance: 1.1290 and 1.1300.

Fig. 2. EUR/USD. The current price is 1.1280

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Hanzenko Anton

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