US retail sales drop 0.1% in September – USD slides

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US retail sales dropped by 0.1% in September 2013. They were expected to rise by 0.2%. Core sales advanced by 0.4% as expected. The Producer Price Index was predicted to rise by 0.2% but actually fell by 0.1%. Core PPI by 0.1% and this was also the actual number. All the data were delayed due to the government shutdown. All in all, the data is a bit disappointing.

The US dollar has been on a roll, recovering from previous losses. EUR/USD traded at 1.3760, GBP/USD at 1.6073 and USD/JPY at 97.90 before the publication. The dollar was initially a bit weaker, but it is now returning to levels seen before the release.

The dollar enjoyed a recovery after a big losing streak due to the poor resolution to the political crisis and the weak Non-Farm Payrolls. Most data released in October relates to September. Weak data before the crisis is worrying, as everybody sees the situation as having deteriorated due to the crisis.

The S&P Case Shiller House Price Index will be released later on, and so will the CB Consumer Confidence. Both are figures released by the private sector.

Further reading: The euro’s reluctant rise.

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About Author

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.

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