Italy April retail sales s.a -1.6% m/m, unadj -6.8% y/y – ISTAT

Monthly fall steepest since May 2004.

Y/Y fall steepest fall since start of series in January 2001

EUR/USD holding up relatively well despite grotty Italian data, presently at 1.2520.

Sell orders clustered 1.2540/50, buy stops through 1.2555.