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

France Consumer Spending m/m for August was reported at 0.5%. This figure exceeded the consensus expectation of 0%. The previous month’s reading was 0.4%.

Following the release, the Euro showed a mixed and generally limited reaction across major pairs after 15 minutes. EURAUD moved -0.6 pips, EURCAD was unchanged at 0.0 pips, and EURCHF moved +0.4 pips. EURGBP saw a +0.3 pip move, EURJPY moved -1.8 pips, and EURNZD moved -2.0 pips. EURUSD moved +0.9 pips. These initial moves are small when compared to the typical median 1-hour moves observed after past releases, which range from 5 pips for EURCHF to 14 pips for EURNZD.