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US retail sales surprise to the upside: +0.4% – USD

US retail sales were expected to rise by 0.1% in October, but they exceeded expectations with +0.4%. The same growth rate of 0.1% was predicted in core sales but also here, core sales rose above predictions, by 0.2%. CPI was expected to remain flat but fell by 0.1%. Core CPI carried expectations of a minimal rise of 0.1% and that is exactly what happened. Core CPI remained at a level of 1.7% year over year.

Before the publication, EUR/USD traded at 1.3525 and USD/JPY was just under 100. After the release, USD/JPY is above 100 once again as the battle continues, and EUR/USD is down to 1.3515.

The dollar was generally weaker in recent days, but it stabilized and began looking for a new direction today.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.