Swiss Retail Sales Fell More Than Expected In February
Release Explanation: Measures the value of Sales at the Retail level. It is a very important set of figures that make up a large percentage of consumer spending numbers. Retail sales are the measure of the total sales of goods and services by retail stores.
TheLFB-Forex.com Trade Desk Thoughts: Swiss retail fell more than expected in February from one year ago, by 3.8% compared with the -0.2% expected. At the same time, retail sales declined 3.1% from the previous month, January. Over the last few months, retail sales has risen strongly, but this trend may reverse, in-line with the fatigue seen in the economy.
Forex Technical Reaction: The swissy just broke above the 50-day simple moving average, after it gained 90 pips during the Friday trading session.
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