Breaking: US Retail Sales fall by 0.3% MoM in May vs. 0.2% expected gain
|- Retail Sales unexpectedly fell by 0.3% MoM in May versus a 0.2% expected rise.
- The DXY didn't react much at the time, though the data will pump US recession fears.
Retail Sales in the US fell by 0.3% MoM in May, versus expectations for a 0.2% rise and following a 0.7% MoM gain in April (revised down from 0.9%), data released by the US Census Bureau on Wednesday showed. Meanwhile, Core Retail Sales rose by 0.5% MoM, below the expected gain of 0.8%, while April's figure was also revised lower to a gain of 0.4% from 0.6% previously. The Retail Control, meanwhile, was stagnant in May and remained unchanged versus expectations for a 0.5% rise, while April's figure was revised lower to a 0.5% gain from 1.0% previously.
Market Reaction
The DXY appeared to see some momentary weakness in wake of the downbeat US Retail Sales numbers, but the DXY continues to broadly change close to pre-data levels in the 105.20 area. The data is likely to pump US recession fears, which could weigh on sentiment ahead of Wednesday's Fed meeting.
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