Euro-Zone October retail sales worse than expected

Another European economic data release, another disapppointment. This time euro-zone October retail sales fell -0.8% month on month and -2.1% year on year, sharply below expectations of -0.4% and -1.5% respectively. Septembers’ numbers were revised up marginally to flat month on month from -0.2% and to -1.4% from -1.6% year on year, but really that’s neither here nor there in the main scheme of things. EUR/USD presently down at 1.2625. Feeling growing that ECB could cut by 75 bps.