BREAKING: US dollar strengthens after retail sales data

1:36 PM 17 August 2022

US retail sales data for July was released at 1:30 pm BST.  Report turned out to be mixed and caused some moves on the markets. Highlights of the report:

• Headline: 0.0% MoM vs 0.1% MoM expected (1.0% MoM previous)

• Ex-autos: 0.4% MoM vs -0.1% MoM expected (1.0% MoM previous)

Report showed that inflation eased slightly but remained high in July. Sales at nonstore retailers jumped 2.7% boosted in large part by Amazon’s Prime Day event on July 12 and 13. Increases were also recorded for building material & garden eq. & supplies dealers (1.5%), miscellaneous store retailers (1.5%). On the other hand, sales at gasoline stations tumbled 1.8% as the gasoline price index tumbled 7.7%. Declines were also seen for motor vehicle & parts dealers (-1.6%) and at department stores (-0.5%). Excluding gasoline stations, sales rose 0.2%.

EURUSD is trading lower today and today’s data provided more fuel for bears. The main currency pair may be heading towards support zone in the 1.0125 area. Source: xStation5

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits