Euro area Retail Sales rise by 0.1% in October vs 0.2% expected

• Retail Sales in the Euro area rose modestly in October.
• EUR/USD continues to fluctuate in a tight channel slightly below 1.0800.

Retail Sales in the Euro area and the EU rose by 0.1% and 0.3%, respectively, on a monthly basis in October, Eurostat reported on Wednesday. On a yearly basis, Retail Sales contracted by 1.2% in the Euro area and by 0.9% in the EU.

"In the euro area in October 2023, compared with September 2023, the volume of retail trade increased by 0.8% for non-food products, while it decreased by 0.8% for automotive fuels and by 1.1% for food, drinks and tobacco," Eurostat noted in its publication.

Market reaction

This report failed to trigger a noticeable market reaction. At the time of press, EUR/USD was virtually unchanged on the day at 1.0794.