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US Retail sales miss as does PPI- EUR/USD lifts above 1.12 once more
The US PPI, weekly jobless claims and latest retail sales data have all now just been released. The upshot of all this is net dollar negative. Retail sales were forecast to advance by around 0.3% in April, down from 0.5% in March. They have actually risen by just 0.1%. The April read on PPI was expected to show that running a little cooler, at 3.1%, down from a prior run rate of 3.3%. It has fallen back as forecast . Weekly jobless claims were expected unchanged at around 228k. They have matched forecasts. Ahead of this the dollar had been on the rebound from its earlier lows versus the Yen and the Euro. The EUR/USD had fallen back towards 1.1175 since peaking earlier at 1.1228. It was trading around 1.1190 heading into all this data. It has lifted back above 1.12 on all this news, currently trading at 1.1207
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