EUR/USD: US Retail Sales

The Euro appreciated against the US Dollar, following the US Retail Sales release on Monday at 12:30 GMT. The EUR/USD currency pair gained 13 pips or 0.12% right after the release. The Euro continued trading at the 1.1235 level against the US Dollar.

The Census Bureau released the US Retail Sales data, which came lower-than-expected of -0.2% compared with forecasted 0.3%.

According to experts, the US retail sales surprisingly declined in February due to slumps in grocery stores and building materials. The weather played an important role in February sales. There was record rainfall in the Southeast, winter storms in the North, record snowfall and cold temperatures in the Northwest. Also, this decline may indicate future slowdown for the US economy in the first quarter.