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Retail Sales in the US increased more than expected in July. The US Dollar Index stays in positive territory above 103.00. Retail Sales in the US rose 1% to $709.7 billion in July, the US Census Bureau reported on Thursday. This reading followed the 0.2% decrease (revised from 0%) recorded in June and came in better than the market expectation for an increase of 0.3%. In the same period, Retail Sales ex Autos grew 0.4%, surpassing analysts’ estimate of 0.1%. “Total sales for the May 2024 through July 2024 period were up 2.4% from the same period a year ago,” the publication read. “Retail trade sales were up 1.1% from June 2024, and up 2.6% from last year.” Market reaction The US Dollar gathers strength against its rivals following this upbeat data. At the time of press, the US Dollar Index was up 0.5% on the day at 103.06. Source: https://www.fxstreet.com/news/us-retail-sales-rise-1-in-july-vs-03-expected-202408151240

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Filed under: News - @ August 15, 2024 2:22 pm