Market Update: German Retail Sales, EU Confidence, and US Data in Focus

US dollar strengthens, German retail sales, EU confidence data

Today promises to be a busy day for markets, with key data releases from Germany, the EU, and the US set to drive sentiment and currency movements. Here’s what you need to know.


German Retail Sales Beat Expectations

This morning, German retail sales figures were released, showing a 0.6% monthly rise, surpassing expectations of a 1.9% decline. On a yearly basis, retail sales grew by 2.5%, further highlighting the resilience of Germany’s retail sector amid broader economic challenges.


EU Confidence and PPI Data Ahead

Later this morning, the focus will shift to the EU Business & Consumer Confidence Index, which will provide insight into economic sentiment across the Eurozone. This will be followed by the release of the Producer Price Index (PPI) numbers, offering further clues about inflation trends in the region.


Key US Data: ADP Employment and Petroleum Reports

This afternoon, attention turns to the US with two major releases:

  • The ADP National Employment Report, which estimates the monthly change in US employment excluding farming and government sectors.
  • The Weekly Petroleum Report, a key indicator for energy markets and inflation expectations.

US Dollar Strengthens Further

Over the past 24 hours, the US dollar has strengthened, supported by:

  • Above-consensus US economic data, confirming rising inflationary pressures.
  • Lowering odds of a Federal Reserve interest rate cut, with markets now expecting no cuts until at least July.

In the past 30 days, the dollar has gained:

  • 2.75% against the pound.
  • Nearly 3% against the euro.

This robust performance underscores the resilience of the US economy and its continued influence on global markets.


How Could This Impact Your Business?

The stronger dollar and mixed economic data across Europe present both risks and opportunities. Businesses should monitor these developments to optimise their international transactions and hedge against volatility.

Speak to Qumoney’s experts today for tailored strategies to safeguard your business and capitalise on market movements.

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