German Retail Sales jump 2.9% YoY in January vs. 1.8% previous

• Retail Sales in Germany rebounded firmly on an annual basis in January.
• EUR/USD remains depressed in a range below 1.0400.

Retail Sales in Germany rebounded 0.2% month-on-month (MoM) in January, following the 1.6% decrease recorded in December, the official data released by Destatis showed Friday.

The reading outpaced the market expectation for a 0% print.

On an annual basis, Retail Sales rose by 2.9% in January, compared to a 1.8% growth reported in December.