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4 Mar 2015
Eurozone retail sales: risks tilted to the upside of expectations – Standard Bank
FXStreet (Barcelona) - The Research Team at Standard Bank, view that Eurozone retail sales data might show an upside surprise, on the back of the strong recent German data, but any significant market response is highly unlikely.
Key Quotes
“Earlier in the day, we will see the Eurozone retail sales data for January. The market looks for a 0.2% m/m rise in the month but Steve notes that Germany’s data showing a 2.9% monthly rise yesterday could add 0.75% on its own and it is hard to think that data from other countries will take this all away and leave the Eurozone figure at 0.2% or lower.”
“But while Steve sees a clear upside risk he also suspects that the market response will be negligible – as was the case with the German data yesterday.”
Key Quotes
“Earlier in the day, we will see the Eurozone retail sales data for January. The market looks for a 0.2% m/m rise in the month but Steve notes that Germany’s data showing a 2.9% monthly rise yesterday could add 0.75% on its own and it is hard to think that data from other countries will take this all away and leave the Eurozone figure at 0.2% or lower.”
“But while Steve sees a clear upside risk he also suspects that the market response will be negligible – as was the case with the German data yesterday.”