Eurozone Retail Sales index lower than expected, Portugal downgraded

Tuesday, 5 April 2011 04:25

The Retail Sales index data came out in Europe below expectations at 0.1% and – 0.1%, while the anticipated result was to value at 0.6% and 0.4%.  Despite the unattractive news the European currency didn't change, trading at the 1.4187 level. 

Portugal was yet again downgraded my Moody's to Baa1 from A3, causing the Euro to drop significantly.