|07:30||Switzerland||Consumer Price Index (MoM) ||February||0.6%||0.4%||0.7%|
|07:30||Switzerland||Consumer Price Index (YoY)||February||3.3%||3.1%||3.4%|
|09:30||United Kingdom||PMI Construction||February||48.4||49.1||54.6|
|10:00||Eurozone||Retail Sales (YoY)||January||-2.8%||-1.8%||-2.3%|
|10:00||Eurozone||Retail Sales (MoM)||January||-1.7%||1%||0.3%|
EUR traded mixed against other major currencies in the European session on Monday as investors weighed weaker-than-expected Eurozone’s retail sales data for January and an unexpected decline in investors' sentiment in March against hawkish statements of the European Central Bank’s chief economist Philip Lane.
The single European currency rose against GBP and AUD, declined against USD and CHF, and changed little against CAD and JPY.
Eurostat reported that retail trade in the Eurozone rose by 0.3% m/m in January 2023, following a downwardly revised 1.7% m/m decline in December 2022. On a y/y basis, retail sales dropped 2.3% in January after a 2.8% fall in the previous month. Economists had forecast a jump of 1.0% m/m and a decrease of 1.8% y/y for January.
Meanwhile, Sentix’s survey revealed that investors’ sentiment in the Eurozone unexpectedly declined in March as economic expectations slumped. The sentix Economic Index fell to -11.1 points for March from -8.0 in February. That marked the first decrease in the indicator since October 2022 and disappointed economists, who had projected the index to improve to -6.3.
The ECB’s chief economist Philip Lane stated Monday that underlying inflation pressures suggest that hiking interest rates further beyond the March meeting will be appropriate.