29.05.2015 - Retail sales in Germany, cheered investors
Statistics on retail sales in Germany, has pleased investors and has led to a slight increase of the euro. So, in April showed an increase of 1.7%. We recall that in the previous month, the decline was 1.4%. Analysts had forecasted sales growth of 1.1%. Sales of consumer goods showed strong growth by 2.4%, but sales of food products decreased for the last month by 2.1%. It is worth recalling that domestic demand is the main driver of growth for the German economy and support the euro quotations. We expect a further decline of the euro in the medium term due to the quantitative easing program and recommend holding short positions.