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US consumers did not splash the cash around Black Friday: retail sales rose by only 0.1% in November. In addition, that came on top of a downwards revision for October: only 0.6% instead of 0.8% originally reported. Also, core sales missed with 0.2% and also here, there was a downside revision. The control group rose by only 0.1% with yet another downward revision. PPI  numbers actually beat expectations, but the matter less.

The US is slightly lower, with EUR/USD topping 1.0650, GBP/USD topping 1.27 and USD/JPY slipping under 115. USD/CAD is around 1.3110, AUD/USD at 0.7510 and NZD/USD at 0.7227.

The United States was expected to report a rise of 0.3% in retail sales in  November 2016, following a 0.8% advance beforehand. Core sales were projected to rise 0.4% and the control group by 0.3%. Revisions are quite common.

Markets were waiting, patiently or not, for a bigger event: the FED meeting later in the day.

US retail sales and PPI data

  • Retail sales: previous 0.8%, expected 0.3%, actual: 0.1%.
  • Core retail sales: prev. 0.8%, exp. 0.4%, actual: 0.2%.
  • Retail control group: prev. 0.8%, exp. 0.3%, actual: 0.1%
  • Retail ex gas/auto: prev. 0.6%, actual: 0.2%.
  • PPI m/m:  previous 0%, expected 0.1%, actual: 0.4%
  • Core PPI m/m: prev. -0.2%, exp. +0.2%, actual: 0.4%.
  • PPI y/y: prev. 0.8%, exp. 0.9%, actual: 1.3%
  • Core PPI y/y: prev. 1.2%, exp. 1.3%, actual: 1.6%.

Get ready for the FED