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Fundamental Forex Analysis

US Retail Sales increased by 0.3% in December vs. 0.3% expected

  • Retail Sales in the US rose more than expected in December.
  • US Dollar Index remains depressed below the 97 handle.

Retail Sales in the United States increased by 0.3% on a monthly basis in December, the advanced data published by the US Census Bureau showed on Thursday. This was bang in line with market expectation and also matched the previous month’s upwardly revised reading.

Meanwhile, sales excluding automobiles (core retail sales) rose by 0.7% during the reported month as against 0.5% expected and the previous month’s downwardly reading of 0.1% (0.1% growth reported earlier). The closely watched Retail Sales Control Group also bettered consensus estimates and increased by 0.5% following a 0.1% decline in November (revised lower from 0.1% growth reported previously).

The market reaction to the mixed readings turned out to be rather muted, with the US Dollar Index still holding in the red below the 97.00 round-figure mark.

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