08.04.2015 - Retail sales in the euro area fell by 0.2%

Today was published statistics on retail sales in the euro area, which for the first time in 5 months fell by more than expected by experts. Thus, the rate in February declined by 0.2%, against an expected fall of 0.1%. In January, retail sales in the region increased by 0.9%. Investors did not rush to accumulate positions before the publication of the minutes of the meeting the US Federal Reserve. Tomorrow the dynamics of trading on the euro will depend on the statistics of the German trade balance and industrial production. Given the program of quantitative easing in the euro area and the expectation of rising interest rates the of the Fed in the second half of the year, we keep negative medium-term outlook for the euro with the potential of fall to 1.0000.

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