USD, Retail Sales Price Analysis & News
- Stellar US Retail Sales Suggests Upside Risks to GDP
- USD and US Yields Extend Higher, Gold Drops
US Retail Sales Surge, US Dollar Extends Higher
A sizeable beat on the latest retail sales data, which has also surpassed the high estimate. The retail control figure, which is important for GDP trackers, rose 6%, surpassing expectations of 0.8% and beating the high estimate of 4.3%. In turn, this will likely feedthrough into upward revisions for US GDP. The initial reaction has seen the USD extend gains across the board to hit fresh session highs with US yields also picking up, while gold remains on the backfoot as 1764 comes into focus. (Full analysis on gold here).
Updates to follow….
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