Today, European investors were disappointed with the weak statistics on retail sales, which fell in June by 0.6%, which was 0.2% worse than analysts' forecasts. It should be noted that in May, the figure rose by 0.1%. The largest decrease was recorded in Germany (-2.3%). Sales of food products fell by 0.8% and non-food products by 0.2%. The euro continues to be under the pressure of a soft monetary policy of the ECB and the strengthening of the US dollar. We recommend to keep the short positions and maintain the medium-term negative outlook.