Economic data from Germany are generally positive. Retail sales rose 1.9% mom in November, versus expectation of -2.2% mom contraction. Destatis added that retail turnover in 202 is expected to be between 3.9% and 4.3% higher than in 2019.
Unemployment dropped -37k in December, versus expectation of 10k. Unemployment rate was unchanged at 6.1%, versus expectation of 6.2%.
Euro has little reactions to the data. EUR/CHF’s choppy decline from 1.0890 is still in progress for 1.0737 support. Break will suggest completion of whole rise from 1.0658 and bring deeper fall back to this support. This will remain the favor case for now, as long as 1.0830 minor resistance holds.
