German retail sales likely to have risen in October, consumer sentiment to have dropped in December

German retail sales figures for the month of October are set to be released early next week. In the prior month, the index had risen a robust 0.5 percent, the first positive reading in three months. On a year-on-year basis, the retail sales had grown 4.1 percent in the month of September, the third straight year-on-year growth.

In the meantime, markets will also get the GfK consumer sentiment index for December. In September the GfK index had reached a series high of 10.9, while it dropped a bit to 10.7 in November. The consumer sentiment is expected to have dropped in Germany, owing to the failure of Angela Merkel to form a governmental coalition, noted Wells Fargo in a research report.

At 16:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bullish at 173.645, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -101.277. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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