Forex: Positive German data boosts EUR/USD to 1.3085

on Jun 28, 2013
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_iNVEZZ.com Friday June 28th:_ The EUR/USD started today’s Asian session at 1.3034 and has increased 1.3101, a current daily high, following positive German retail sales releases.

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The export driven German economy has been under heavy pressure from the recession in the other Eurozone countries with its trade balance negatively affected.

Today at 07:00 BST German retail sales data was reported, showing a 0.4 percent increase in May y/y, against the previous month’s increase of 2.7 percent. The monthly reading reported an increase of 0.8 percent in May, exceeding forecasts for 0.2 percent growth and after a 0.1 percent fall the prior month.
Later in the day the preliminary reading on the German consumer price inflation figures for June y/y reported a 1.9 percent rise, compared with 1.6 percent in May. On a monthly base inflation rose to a seasonally adjusted 0.1 percent in June from May’s 0.4 percent according to a preliminary reading.

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EUR USD Forex