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In the Eurozone, economists were way off the mark as German Monthly Retail Sales Unexpectedly Dropped.

German monthly retail sales unexpectedly fell in March, data showed today, marking a fourth consecutive drop and dampening cheer around a consumer-led upswing in Europe's biggest economy.

The volatile indicator, which is often subject to revision, showed retail sales decreased by 0.6% on the month in real terms, the Federal Statistics Office said.

That confounded the Reuters consensus forecast for a 0.8% rise and followed an upwardly revised drop of 0.2% in February.

Slowing Global Growth

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Data from Europe puts a nice spotlight on slowing global GDP.

Don't expect the ECB to be hiking or even tapering its balance sheet anytime soon. This is US dollar supportive.

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Mike "Mish" Shedlock