France Consumer Spending m/m comes in at -0.5% against 0% consensus

France’s Consumer Spending month over month for September was reported at -0.5%. This figure was below the market consensus expectation of 0%. The previous month’s reading was 0.5%. This marks a decline from both the prior period and analyst forecasts.

The Euro showed a limited reaction in the 15 minutes following the release. EURAUD moved up 0.4 pips, EURCAD moved down 1.4 pips, EURCHF moved down 2.8 pips, EURGBP moved down 3.9 pips, EURJPY moved down 13 pips, EURNZD moved down 1.9 pips, and EURUSD moved down 3.7 pips. For context, the median 1-hour move for EURAUD after past releases is 11 pips, EURCAD is 9 pips, EURCHF is 5 pips, EURGBP is 6 pips, EURJPY is 10 pips, EURNZD is 14 pips, and EURUSD is 7 pips. The measured moves across most pairs so far are small relative to their typical 1-hour median moves. EURJPY’s 13 pip move is closer to its median of 10 pips.