This article was first published on FXCC Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
On Monday we have seen a less than expected rise in US retail sales with the reading of 0.1% in September, while the forecasted was a gain of 0.7%. According to the report, the American citizens spent lees in restaurants, gas stations and grocery shops. In addition, the results may have been affected by the hurricane Florence. The US retails sales hardly rose in the previous month, where the bounce in motor vehicle purchases was compensated by the highest drop in spending at bars and restaurants in the previous two years.
The data from August has been revised by the Commerce Department and the core retail sales shown unchanged reading, as opposed to the previously reported 0.1% gain. In September the auto sales rose by 0.8% after a 0.5% decline in August, however the spending on gasoline stations dropped by 0.8% seen as reflecting on the moderation of petrol prices.
From Japan we had positive news regarding the manufacturer’s confidence, which rose this month as opposed to September, h...
To keep reading this article, please navigate to: FXCC Blog.