BREAKING: US Retail Sales for April fall at a record pace !

Retail sales in the US plunged 16.4% month-over-month in April of 2020, worse than market forecasts of a 12.0% drop. The March figure slumped to a record low of -8.7% It is the biggest decline on record, in a sign that the coronavirus impact on the economy may be harder than anticipated.

Ex autos and gas -16.2% vs -7.6% expected
Ex autos -17.2% vs -8.5% expected
Control group -15.3% vs -5.0% expected
Prior control group 0.0% (revised to -0.2%)

The modern retail sales data series dates back to 1992 and this is double the worst fall on record. All the headlines are ghastly with the control group also plunging.

EURUSD is trading slightly higher after publication of today’s retail sales report. The most popular currency pair is heading towards 1.0843 resistance. Source: xStation5

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