German retail sales volume for m/m basis falls

Friday, 29 April 2011 12:11

German retail sales volume were released for March with a 2.1% drop, falling for the second month in a row.  It.s 2.1% drop for month-on-month basis and 3.5% lower on the year.  These values brought Germany to an 11-month low for retail sales.

Germany's Angela Merkel is deciding on who Trichet's successor she would like to see as candidate, the next European Central Bank president.  Merkel is backing Mario Draghi, Italian central bank governor, as candidate.  Berlusconi, Italian Prime Minister, and Sarkozy, French President, are also supporting Draghi.   

The Euro has been on a rise, opening at 1.4840 against the Dollar.  EUR/USD is currently trading 1.4855; rising the Euro more versus the Dollar.