Forexpros - Retail sales in the euro zone rose more-than-expected in June, official data showed on Wednesday.
In a report, Eurostat said retail sales rose by a seasonally adjusted 0.9% in June, above expectations for a 0.5% increase.
May's figure was revised down to a drop of 1.3% from a previously reported decline of 1.1%.
Year-over-year, retail sales in the euro zone fell at an annualized rate of 0.4% in June, after dropping at a rate of 2.3% in May, outstripping expectations for a 1.0% drop.
Following the release of the data, the euro moved higher against the U.S. dollar, with EUR/USD climbing 0.79% to trade at 1.4317.
Meanwhile, European stock markets were down. The EURO STOXX 50 slumped 0.1%, France's CAC 40 dipped 0.45%, the FTSE 100 sank 1.1%, while Germany's DAX fell 0.7%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
