Latest data released by Istat - 11 April 2018

  • Prior m/m -0.5%
  • Retail sales y/y -0.6%
  • Prior y/y -0.8%; revised to -0.7%

The year-on-year figure remains soggy, but a slightly better revision. Still not the brightest of readings.

It's a lagging data point, so won't do much to change what the sentiment is in the market on the Eurozone - which appears to be "ignore the data points until they become relevant, until then, keep calm and believe in the ECB".

EUR/USD off the highs at 1.2372, EUR/GBP at 0.8710 sitting in a tight range and EUR/CHF up to 1.1869.