Italy retail sales drop for 2nd month in November

Retail sales in Italy decreased 0.4% from a month ago in November, following a 0.5% drop in October, data by the National Institute of Statistics showed.

In comparison, a consensus of analyst estimates had pointed to a 0.2% growth.

Sales dropped at a slower rate for food items, by 0.1% compared to a 0.7% decrease in October.

And, sales continued to shrink for non-food products, by 0.7% compared to a 0.3% drop in October.

In annual terms, retail sales went up 1.1% in November, while easing from a 2.6% YoY growth in October.

The EUR/USD currency pair settled 0.57% lower at 1.0240 on Friday. For the week, the major currency pair went down 0.66%.

The US Dollar found support on the back of a stronger-than-anticipated employment report that bolstered the case for a pause in the Fed’s monetary easing cycle.