US: Retail sales increased by 0.4% in June vs 0.1% expected, DXY climbs above 97.30

Retail sales in the U.S. grew more than expected in June.
Greenback gathers strength on the back of the data.

Eren Sengezer FXStreet

The monthly data published by the U.S. Census Bureau today revealed that retail sales in June increased by 0.4% on a monthly basis in June and came in better than the market expectation of 0.1%. Other data from the U.S. revealed that import prices on a yearly basis declined by 2% and export prices fell 1.6% in the same period.

With the initial reaction, the US Dollar Index, which tracks the greenback's value against a basket of six major currencies, extended its daily recovery and was last seen up 0.4% on a daily basis at 97.32.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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