US Retail Sales drop 0.1% in October vs. -0.3% expected
|- US Retail Sales decline 0.1% in October, beating miss estimates.
- Core Retail Sales in the US arrive at 0.1%, Control Group Sales rise by 0.2%.
- The US Dollar whipsaws after the US data release.
Retail Sales in the United States, a measure of the country’s consumer spending, dropped 0.1% on a monthly basis in October, compared to the September increase of 0.9%, the official data published by US Census Bureau showed on Wednesday. The data came in better than the market expectation of -0.3%.
US Retail Sales Ex-Autos arrived at 0.1% in the reported period, as against the estimate of 0% and September’s 0.8% increase.
Retail Sales Control Group for October showed an increase of 0.2%.
Market reaction
The US Dollar dropped and popped against its major rivals in a knee-jerk reaction to the US Retail Sales data. The US Dollar Index (DXY) fell to 103.99 before rebounding to 104.25, where it now wavers.
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