Summary:
- US retail sales for June came in above expectations
- Sales in a control group accelerated as well
- EURUSD moves toward the key support
US retail sales for June easily beat market expectations showing a healthy gain of 0.4% in monthly terms while the consensus had called for a 0.2% MoM pick-up. Moreover, sales excluding auto and gas jumped 0.7%, smashing expectations pointing to a 0.3% rise. In turn, sales in a control group, the series taken into GDP calculations, increased 0.7% and the reading for May was revised up to 0.6% from 0.5% (headline and core sales readings were revised subtly down though). In response to this report the US dollar has extended its gains while the US 10Y bond yield has ticked up 2 basis points.
The EURUSD is coming back toward its crucial support following the excellent retail sales data. Source: xStation5
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