Germany Retail Sales m/m comes in at 0% against -0.4% consensus

Germany’s Retail Sales month over month for September was reported at 0%. This figure came in stronger than the consensus expectation of -0.4%. The previous month’s reading was -0.3%. The actual print represented a 100.0% surprise versus the consensus forecast, indicating better-than-expected performance in the retail sector.

Following the release, EUR pairs showed relatively small movements in the first 15 minutes. EURAUD moved -2.4 pips, EURCAD -7.6 pips, EURCHF +0.6 pips, EURGBP +0.3 pips, EURJPY +2.4 pips, EURNZD +0.5 pips, and EURUSD -1.6 pips. These initial moves are small when compared to the typical median 1-hour moves observed after past releases. For context, EURUSD typically sees a median 1-hour move of 8 pips, while EURCAD’s median 1-hour move is also 8 pips. EURAUD typically moves 13 pips, EURCHF 6 pips, EURGBP 4 pips, EURJPY 11 pips, and EURNZD 12 pips over a 1-hour period after past releases.