US Retail Sales rose by 0.6% in July
Sales at U.S. retailers rose in July on growing demand for everything from cars to clothing, and a decline the previous month was wiped away, signaling consumers are propelling growth in the world’s largest economy. The 0.6% advance matched the median forecast of economists and followed little change in June that was previously reported as a 0.3% drop. Eleven of 13 major categories showed gains.
Rising employment, stronger finances and still-cheap fuel is helping draw consumers into stores and auto dealerships. Growth in household spending, which accounts for about 70 percent of the economy, is bolstering the expansion as Federal Reserve policy makers move toward lifting interest rates this year for the first time since 2006.
Separate report showed that in the week ending August 8, the advance figure for seasonally adjusted initial claims was 274,000, an increase of 5,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 270,000 to 269,000. Analysts were expecting increase to 272,000. The 4-week moving average was 266,250, a decrease of 1,750 from the previous week's revised average. This is the lowest level for this average since April 15, 2000 when it was 266,250.
After the data USD was pushed higher against its major rivals. Euro is currently being traded around 1.1090 area, Sterling is few points above 1.56 handle, while Aussie is around 0.7330 level.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419