Data/event pulse: US retail sales surprise to the upside - ANZ
|Analysts at ANZ broke down the key data events from overnight driving price action.
Key Quotes:
"US retail sales surprised on the upside lifting 0.8% m/m in May (mkt: 0.4%, last 0.4%), suggesting the US economy has well and truly bounded back following a softer winter-weather-induced patch earlier in the year. Sales were up 5.9% y/y. The ex-auto component (”core sales”) rose an impressive 0.9% m/m (mkt: 0.5%, last: 0.4%).
UK retail sales also posted an impressive 1.3% m/m lift in May, exceeding market expectations for a 0.5% rise. Core sales rose by the same amount, exceeding expectations by a whole percentage point. There’s nothing quite like a royal wedding and warm weather to get consumers out celebrating (and spending).
German CPI came in exactly as markets expected, rising 0.5% m/m in May (last: 0.5%). Annual inflation is travelling at 2.2%, unchanged from April, with core inflation (ex food and energy) continuing to lag at 1.5% y/y."
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.