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US retail sales: flat 0% with upwards revisions – USD

Mostly disappointing data from the US: retail sales remained unchanged in April instead of rising. However, the number for March was revised by 0.2% to 1.1%. Core sales are up 0.1%,  significantly below predictions, but also here, the previous number  was revised up +0.3% to +0.7%.  

So while on balance things are not terrible, the present is more important than the past and the dollar doesn’t like it.

Also other measures excluding various components show the same picture: stronger March than reported but a very worrying April. Import prices also fall short of predictions with -0.3% instead of +0.3% expected.

The US was expected to report a rise of  0.3% in retail sales for the  month of April after +0.9% in March (before revisions). Core sales carried expectations for +0.4% after the same rise beforehand.

Currencies were mixed towards the publication, with the jumping up and falling back down.

A large part of the US economy is consumption. During the cold winter months, the volume of sales disappointed time after time and has weighed heavily on the economy and eventually on jobs. A rebound is certainly needed here.


More:  Time To Fade EUR/USD Correction – parity before year end – SEB

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.