US retail sales data for February was released at 1:30 pm GMT and did not trigger any major moves on the markets. Highlights of the report:
• Headline: -0.4% MoM vs -0.3% MoM expected (3.0% MoM previous). The biggest decreases were seen in sales at furniture stores (-2.5%), food services and drinking places (-2.2%), miscellaneous retailers (-1.8%), motor vehicles and part dealers (-1.8%), clothing stores (-0.8%), gasoline stations (-0.6%). In contrast, increases were seen in nonstore retailers (1.6%), health (0.9%), food and beverages stores (0.5%), general merchandise stores (0.5%) and electronics and appliances (0.3%).
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app• Ex-autos: -0.1% MoM vs -0.1% MoM expected (2.3% MoM previous)
Simultaneously to the release of retail sales figures, the US PPI report for February was released.
-
Annual producer inflation in the United States edged down/higher to 4.6% last month from an downwardly revised 5.7% in January, well below analysts’ estimates of 5.4%. The rate of inflation was the lowest since March 2021, adding to signs that inflationary pressure in the world's largest economy might be cooling following the policy tightening delivered by the Fed over the past year.
-
The producer price index for final demand less foods and energy dropped to 4.4% from a year earlier in February, from 5.4% in January and below market expectations of an 5.2% increase.
Both retail sales and producer prices moved lower in February. Source: Bloomberg via ZeroHedge
Source: Bloomberg via ZeroHedge
EURUSD is rather unimpressed by today's data. The pair continues to trade around support at 1.0580. Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
