Eurozone Retail Sales decline moderately by 0.1% MoM in March vs. 0.3% estimates

Eurozone Retail Sales, a key measure of consumer spending, decline by 0.1% month-on-month (MoM) in March, while it was expected to contract at a steady pace of 0.3%. February’s figure revised lower from -0.2%.

On an annualized basis, the consumer spending measure expands at a stronger pace of 1.2% against 1% estimates, but slower than the previous reading of 1.3%, revised lower from 1.7%.

Market reaction

The Euro (EUR) remains neutral to the Eurozone's Retail Sales data, with risk-on impulse dominating global markets. As of writing, EUR/USD trades 0.2% higher at around 1.1770.