France Consumer Spending m/m comes in at 0.4% against -0.5% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
France’s Consumer Spending month over month data for July was released today, showing a 0.4% increase. This figure significantly surpassed the market consensus expectation of a -0.5% contraction. The actual print represents a 180.0% surprise compared to the consensus. The previous month’s reading was 0.5%.
Following the release, the euro saw limited movement against major currencies in the initial 15 minutes. EURAUD moved -2.0 pips, EURCAD moved -1.8 pips, and EURCHF moved +1.6 pips. EURGBP saw a -1.4 pip change, while EURJPY moved -2.5 pips. EURNZD registered a -4.5 pip move, and EURUSD moved -3.6 pips. These observed movements are small when compared to the typical median 1-hour moves for these pairs, which range from 5 pips for EURCHF to 14 pips for EURNZD after past releases of this type.