Forex: Positive German data boosts EUR/USD to 1.3085

on Jun 28, 2013
Listen 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.

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.