German Retail Up, Euro Strengthens Thin

Recent data shows, German retail sales unexpectedly rose in February 2013, the latest signal that the domestic economy is returning to growth.
German Federal Statistics Office said retail sales adjusted for inflation and seasonal swings rose 0.4 percent per month compared to 0.3 percent in January.
Europe's largest economy is weathering the turbulence experienced in the recent debt crisis, after an inconclusive election bailout Italy and Cyprus, which rocked financial markets.
However, unemployment is near its lowest level in two decades, and the Bundesbank predicts the economy will return to growth in the first quarter of this year, after contracting 0.6 percent in the final three months of 2012. Thus sindonews reported, as quoted by Bloomberg
The euro rebounded as much as 0.1% to $ 1.2790, but remained close to 4 month low of $ 1.2750 reached on Wednesday after an Italian bond auction shows a borrowing costs rose to a five month high as investors requested premium increases amid a prolonged political uncertainty.
The leader of the left axle Italian Pier Luigi Bersani only have little hope of forming a government after discussions with its rival party leaders ended with the rejection of a 5-Star Movement by Beppe Grillo.