US Retail Sales Exceed Expectations | German Manufacturing PMI Disappoints
Published April 18, 2019
US retail sales surged 1.6 percent in March the strongest increase since September 2017, as households boosted purchases of motor vehicles and a range of other goods. While initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 192,000 for the week ended April 13, the lowest level since September 1969, the Labor Department said.
EURUSD weakens in the early trade and the pair is trading at 1.1251, down 0.41% on the day as German Manufacturing PMI dropped to 44.5 in March well below the expectation of 45.2 points. The all-Eurozone Manufacturing PMI also posted a decline of 47.8, missing the forecast of 48.1 points.
Canada Retail Sales rose 0.8 percent in February to $50.6 billion, the first increase since October while beating the 0.4 percent forecast. The Canadian dollar hasn’t shown much movement after the data and is trading at 1.3380, up 0.32% on the day.
Louis Federal Reserve President James Bullard said that weak economic data at the start of the year should improve in the coming months and ease some of the concerns among investors about the health of the recovery.