US Retail Sales rise 1% in July vs. 0.3% expected
Source Fxstreet
- Retail Sales in the US increased more than expected in July.
- The US Dollar Index stays in positive territory above 103.00.
Retail Sales in the US rose 1% to $709.7 billion in July, the US Census Bureau reported on Thursday. This reading followed the 0.2% decrease (revised from 0%) recorded in June and came in better than the market expectation for an increase of 0.3%.
In the same period, Retail Sales ex Autos grew 0.4%, surpassing analysts' estimate of 0.1%.
"Total sales for the May 2024 through July 2024 period were up 2.4% from the same period a year ago," the publication read. "Retail trade sales were up 1.1% from June 2024, and up 2.6% from last year."
Market reaction
The US Dollar gathers strength against its rivals following this upbeat data. At the time of press, the US Dollar Index was up 0.5% on the day at 103.06.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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