Latest data released by Eurostat - 5 June 2018
- Prior +0.1%; revised to +0.4%
- Retail sales +1.7% vs +1.7% expected
- Prior +0.8%; revised to +1.5%
A little bit of a miss on the monthly estimate, but the yearly estimate is in line with expectations. Couple that with positive revisions, and this is a decent if not good report.
However, it's low-tier data and a lagging indicator since it offers an April reading but feeds into Q2 sentiment at the end of the day.
EUR/USD at 1.1705 still hugging the figure handle, EUR/GBP at 0.8746 near session lows as the pound continues to gain following the positive services PMI data earlier.
