Euro zone retail sales for February have come in weaker than expected, -0.6% m/m, -4.0% y/y compared to median market forecasts of -0.4% and -2.5% respectively. The January data meanwhile was revised upward, to -1.7% y/y from -2.2% y/y.
Euro zone producer prices for February have come in at -0.5% m/m, exactly as expected, and -1.8% y/y, weaker than expected, the median forecast having called for -1.5%. The January data has been revised lower, to -1.1% m/m and -0.7% y/y from previous -0.8% and -0.5% respectively.
The weaker than expected retail sales and weaker than expected price pressures have slightly dented EUR/USD, which is presently down at 1.3525.
