- US retail sales decline 0.1% in October, improving forecasts.
- Excluding vehicles, sales are at 0.1% compared to the estimated 0%.
- The Dollar moves strongly after the publication of US data.
U.S. retail sales, which measure the country’s consumer spending, fell 0.1% month-on-month in October, down from a 0.9% rise in September (revised from +0.7%), official data released on Wednesday showed. by the US Census Bureau. The data exceeded market expectations, which expected a decrease of 0.3%. This is the first drop seen by the indicator in seven months.
The Retail sales excluding vehicles stood at +0.1% in the reported period, compared to the 0% estimate and the 0.8% increase in September.
The control group of October retail sales recorded an increase of 0.2%.
Market reaction
The Dollar initially fell before rebounding against its main rivals following the US retail sales data. The Dollar Index (DXY) fell to 103.99 before rebounding to 104.39, a new daily high.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
