Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD: US Retail Sales
The European Single Currency depreciated against the US Dollar, following the US Retail Sales data release on Monday at 12:30 GMT. The EUR/USD exchange currency rate lost 6 pips or 0.05% during a minute, right after the release. The European Single Currency kept going upwards after the data release to continue trading at the 1.1625 area.
The Census Bureau released US Retail Sales data that came out lower-than-expected of 0.1% compared with forecasted 0.7%.
Ellen Zentner, chief U.S. economist at Morgan Stanley in New York said: "Retail sales for food services and drinking places may have been impacted by the hurricane in September, as consumer confidence remained solid during the month, which in our view suggests underlying consumer demand should remain intact,".
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