The EUR/USD revealed temporary appreciation amid weaker-than-expected reports on retail sales in the US. The European single currency added against the Greenback 0.14% or 16 base points to enter the 1.1980 area, but continued a side move at a slightly weaker level.
The Commerce Department reported that the US retail sales dropped unexpectedly 0.2% over the month of August, missing expectations for a 0.3% increase. The negative changes were mainly due to depressed purchases of motor vehicles likely after Hurricane Harvey, which could cause a further moderation in consumer spending in the Q3. However, a rise in purchases at restaurants and furniture outlets suggested the demand is set to be supported by a healthy labour market.
Historical Data Table: US Retail Sales m/m
Date
12.05.2017
14.06.2017
14.07.2017
15.08.2017
15.09.2017
Actual
0.40%
-0.30%
-0.20%
0.60%
-0.20%
Forecast
0.60%
0.10%
0.10%
0.30%
0.10%
Initial Reaction on Main Pairs
Open Price
Close Price
% Change
AUD/USD
0.80177
0.80273
0.12%
EUR/USD
1.19634
1.19798
0.14%
USD/JPY
111.132
110.965
-0.15%
NZD/USD
0.7281
0.72901
0.12%
Actual Topics
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