The major currency pair continues falling after the Euro Area reported on the Retail Sales.
EURUSD is still falling. The current quote for the instrument is 1.1419.
The numbers published in the afternoon were negative. The Retail Sales lost 1.6% m/m in December after adding 0.8% m/m in the previous month and against the expected reading of -1.5% m/m. However, on YoY the indicator expanded by 0.8% against market expectations of +0.5%.
The Final Services PMI report showed 51.2 points in January after being 50.8 points the month before. By the way, no changes were expected.
The service industry was rather mediocre through the entire autumn and early in winter, that’s’ why it’s quite good that January stands out a bit. If purchasing managers believe that the situation is getting better, then estimations of the region’s economy may improve. The January report on the Retail Sales may be much better due to better Service Industry numbers, thus improving market conditions in the Area.
In the evening, one should pay attention to the Markit Final Services PMI in the USA. The indicator is not expected to change, which is quite neutral for the American currency.