Ella 
EUR/JPY loses momentum after German retail sales data. The exchange rate is currently down 0.47% at 158.85.
Data released by the German Statistical Office on Thursday showed that the country’s retail sales fell by 0.8% in July from the previous month, compared with expectations for a 0.3% drop and the previous value fell by 0.8%. In July, retail sales fell by 2.2% year-on-year, the market expected a drop of 1.0%, and the previous value fell by 1.6%. The euro fell after the data was released.
In the yen, Bank of Japan (BoJ) board member Toyoaki Nakamura said on Thursday that policymakers need more time to transition to monetary tightening. Data released by Japan showed that retail sales rose by 6.8% year-on-year in July, compared with the previous value of 5.6%, which was better than the expected 5.4%. The monthly rate of industrial production in July fell by 2.0%, the previous value rose by 2.4%, and the market expected a drop of 1.4%.
Looking ahead, Germany’s unemployment rate and the euro zone’s August harmonized inflation rate are due today. In addition, ECB policymaker Isabel Schnabel’s speech will provide further monetary policy signals. Traders will look for clues and trading opportunities in this data.
