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Dollar slips after US Retail Sales miss on expectations- EUR/USD rebounds
The May US retail sales report has just been released. The markets were expecting a slight increase the pace of sales growth last month, to around 0.3%, from a recently revised 0% rise in April. The core rate was forecast to remain unchanged at 0.2%. The actual data has revealed that sales in May rose by 0.1%, which was a miss. The core rate also missed, falling by 0.1%. The immediate reaction across markets has seen the USD/JPY fall below 158 and towards 157.75. The EUR/USD has taken advantage of this news, rising back above 1.0730. US yields are lower too, but not by very much, but enough to lift gold prices. The EUR/USD is currently trading at 1.0730
Market News
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