05.11.2015 - Statistics on retail sales in the euro area has been worse than the forecast
Retail sales in the euro zone fell unexpectedly in September. Thus, the index fell by 0.1% compared with the previous month. Analysts had expected retail sales growth by 0.2%. Strong decline of 0.6% was recorded in sales of food, beverages and tobacco products. Weak retail sales point to the weakness of consumer demand and business and will encourage the ECB to the new measures to stimulate the economy and inflation in the euro area, which will be negatively displayed on the quotes of euro. Investors are waiting for tomorrow's report on unemployment in the US, which we forecast will lead to a further drop in prices in the near future the euro to levels 1.0800 and 1.0700.