- January retail sales recovers slightly, core measures advance more
- Major downward revision to December data
- EURUSD mixed after the release
Source: Bloomberg
After a dismal December print when US retail sales dropped by 1.8% m/m, cutting annual growth to the lowest since August 2016, today’s data was highly anticipated. The report is a bit mixed – while sales grew more than expected across all measures, downward revisions to already ugly prints from December temper any optimism and the outlook for consumer demand going forward remains uncertain. Because base effects will only increase in months to come, the outlook remains challenging.
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Data provided a mixed picture and the EURUSD maintains recent gains but recent lows are not far. Source: xStation5
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