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German retail sales unexpectedly fall in February- EUR/USD unmoved so far
German retail sales were expected to bounce back in February, by around 0.4% compared to the 0.4% fall posted in January. The data on that has just been released and it has really missed the mark. Sales fell by 1.9% last month. The EUR/USD has not reacted much to this data yet though. Earlier during the Asian session the Euro fell to 1.0808, which is just above the noted interim double bottom, at 1.0802. The EUR/USD had closed last night in the US at 1.0828, which was once again below its 200 day moving average. That remains in place today at 1.0837, unchanged from where it was yesterday. Make no mistake though; this German sales data is disappointing and not likely to do the Euro any favours. The EUR/USD is currently trading at 1.0817
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