US Retail Sales Heads Mixed US Data
|USD/CAD, H4
US January retail sales increased 0.3% for both the headline and ex-autos. December’s 0.3% headline gain was revised down to 0.2%, while the 0.7% ex-auto gain was bumped to 0.6%. Headline and core sales are 4.6% y/y higher. Sales excluding autos, gas and building materials were 0.2% firmer from 0.4%. Gas station sales declined -0.5% after a 1.7% gain (revised from 2.8%) and breaks a string of three monthly gains into the holidays. Clothing sales dropped -3.1% following a 2.7% December bounce (revised from 1.6%). Some of the weakness could be discounting. Car sales edged up 0.2% from -1.7% (revised from -1.3%). Non-store retailer sales were up 0.3% from -0.1% (revised from 0.2%). Miscellaneous sales climbed 2.3%.
The Dollar was steady following the mix of data, where retail sales were in-line with forecasts, import prices were a touch firmer than consensus, and industrial production weaker. EURUSD idles over 1.0840, with USDJPY down a few points at 109.80.
So far today CAD is the best performing currency, in-line with rising Oil prices, and the Swiss Franc is the weakest. USDCAD moved down to print fresh low for the week at 1.3235, ahead of the retail sales data.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.