Euro zone January retail sales +0.1% m/m, -2.2% y/y

Euro zone January retail sales have come out at +0.1% m/m, -2.2% y/y, not a million miles from the median forecasts of +0.2% and -2.3% respectively. However, December’s numbers were revised down, to -0.3% m/m from flat initially and to -2.4% y/y from -1.6% initially.

EUR/USD has slipped back below 1.29 to 1.2895 at writing, not that far from where it stood around the European opening.