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US retail sales unexpectedly dropped in March

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Official data released in the US today showed retail sales unexpectedly dropped in March.

    Retails sales fell 0.3% m/m in March, compared to an expected rise of 0.1% following an upwardly revised February figure of 0.0%. Retail sales ex autos rose 0.2%, missing the estimate of 0.4%. Meanwhile, Ex-Autos and Gas rose 0.1% compared to the expected rise of 0.3%. Previous month’s print was revised higher to 0.6%.

    Retail sales control group number also rose at a measly rate of 0.1%.

    Drop in the retail sales is sending US dollar lower across the board and supports Fed’s view that it needs to stay cautious with more rate hikes.
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