US dollar falls as retail sales miss expectations

Summary:

  • US headline retail sales fell 1.2% MoM, while core sales fell 1.8% MoM, the data for December

  • Weaker data could have been affected by the US government shutdown

  • Sales in a control group declined 1.7% MoM while the consensus had pointed to a 0.4% MoM increase, this series is taken into GDP calculations

  • PPI came in close to market expectations, the data for January

  • US dollar dips on the dismal retail sales, EURUSD approaches its crucial short-term resistance

The bag of data from the US came in below expectations, this is especially true when it comes retail sales. Source: Bloomberg

The EURUSD is surging on the grim retail sales. The pair is testing the key supply zone nearby 1.13. Source: xStation5

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