- US Retail Sales surprised to the upside in September.
- The US Dollar maintains its bullish impulse well in place.
According to the US Census Bureau, retail sales in the US increased by 0.4% to reach $714.4B in September. This followed a 0.1% rise in August and exceeded market expectations for a 0.3% monthly gain.
Retail sales excluding autos also grew beyond consensus by 0.5% from August’s 0.2% advance.
The press release noted, "Total sales for the July 2024 through September 2024 period were up 2.3 percent (±0.5 %) from the same period a year ago. The July 2024 to August 2024 percent change was unrevised from up 0.1% (±0.2%).”
Market reaction
The US Dollar Index (DXY) keeps its weekly uptrend well in place and navigates fresh highs near 103.80 amidst a broad-based recovery in US yields across the curve.
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