Retail sales rise 0.3% in February vs. 0.4% expected

The US retail sales rose 0.3% in Februarycoming in below the 0.4% expected and 4.9% in January (upwardly revised from 3.8% previously).

The indicator of the control group of the retail sector fell by 1.2%notably worsening the expected 0.4% increase and the previous month’s 6.7% rise (strongly revised upwards from 4.8%).

Excluding vehicles, retail sales grew 0.2% vs. 0.9% forecast, well down from 4.4% in January (upwardly revised from 3.3%).

EUR/USD reaction

The EUR/USD has reacted to the data with a decline of about 15 pips that has stopped around 1.0993. Previously, the pair had reached three-day highs at 1.1024. At time of writing, the euro is trading against the dollar above 1.0995, gaining 0.37% daily.

Source: Fx Street

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