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.

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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