The start of the day on the euro zone’s economic calendar was relatively busy this morning.
After China’s private sector PMIs this weekend and this morning, the German economy was once again the center of attention.
Retail sales in Germany
In September, retail sales fell 2.5% month-on-month against an expected increase of 0.6%. Retail sales rose 1.2% in August. Year on year, retail sales fell 0.9%.
According to Destatis, the turnover of the retail trade is up 3.7% in September 2021 compared to the pre-crisis month of February 2020.
Prior to trade data, the euro had reached a pre-statistical and current level of $ 1.15654 before reversing.
The reversal saw the EUR fall to a pre-stat and current low of $ 1.15460.
In response to the retail sales figures, the EUR hit a post-stat high of $ 1.15592 before falling to a post-stat low of $ 1.15508.
At the time of this writing, the Euro was down 0.09% to $ 1.15514.
The US ISM manufacturing PMI figures as well as the finalized manufacturing PMI from the October Markit survey.
Following China’s PMI figures which continued to point to further acceleration in inflationary pressures, there will be a lot of interest in PMIs and components for today and tomorrow.
US PMI figures may well point to further acceleration in cost pressures ahead of euro area and member state PMIs tomorrow.