14:31 · 15 November 2023

BREAKING: USD gains after retail sales and PPI data

US data pack including retail sales and PPI inflation data for October was released at 1:30 pm GMT today. Data was expected  to show small month-over-month declines in headline and core retail sales, as well as deceleration in headline PPI inflation.

Actual data showed an unexpected pick-up in core retail sales as well as smaller-than-expected drop in headline sales. Headline PPI inflation slowed more than expected. New York Fed index also turned out to be much better than expected.

US dollar moved lower in a knee-jerk move but this drop was short-lived and now the greenback is trading higher compared to pre-announcement levels.

US retail sales for October

  • Headline: -0.1% MoM vs -0.3% MoM expected (+0.7% MoM previously)
  • Ex-autos: +0.1% MoM vs -0.1% MoM expected (+0.6% MoM previously)

US PPI inflation for October

  • Headline: 1.3% YoY vs 1.9% YoY expected (2.2% YoY previously)
  • Core: 2.4% YoY vs 2.7% YoY expected (2.7% YoY previously)

New York Fed index for November: 9.1 vs -2.5 expected (-4.6 previously)

Source: xStation5

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