Finally some good news from the US: retail sales beat expectations on all measures and all the revisions are to the upside. Headline sales advanced 1.3%, the control group by 0.9% and core sales by 0.8%, all are beat. Upwards revisions are between +0.1% to +0.3%.
The US dollar is extending its gains with no currency spared.
US retail sales were expected to bounce back in April, with a rise of 0.8% in the headline number, 0.5% in core retail sales and +0.3% in the control group. This is a top tier release as consumption is a major part of the US economy. The figure mixed expectations too many times in the past year or so.
The US dollar was looking relatively solid towards the release.
Data (updated)
Big beats in retail sales and some misses in the PPI, which is easily overshadowed by the excellent sales data.
Currency reaction
All in all, major pairs are suffering more than commodity currencies.
Here is how it looks on the EUR/USD chart:
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