The January retail sales report showed figures above expectations which boosted the dollar, albeit modestly. The Total sales rose 3.8% in January, rebounding after the 2.5% drop (revised from -1.9%) December; the data was higher than the expected increase of 2%. This is the largest monthly rise since March 2021.
The sales without taking into account vehicles they rose 3.3% in January, more than the 0.8% market consensus. The retail control group sales jumped 4.8%, after December’s 4% drop, which was worse than initially reported at -3.1%, although higher than the increase expected by the average of analyst estimates of 1%.
Industrial production figures will be released at 14:15 GMT, followed by NABH’s real estate index and wholesale inventories. The key event of the day will be in the afternoon, with the publication of the minutes of the last meeting of the Federal Reserve.
Source: Fx Street
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