US Retail Sales

Retail sales figures underwhelmed for the month of August on Wednesday, casting a shadow over the outlook for recovery in the world’s largest economy after Washington lawmakers’ pre-election political jockeying left households with a pair of boots that have proven too large for them to fill so far.

The Dollar was sold heavily on Friday with losses escalating following better-than-expected core retail sales and upgrades to earlier estimates, though in the final session of the week it was Pound Sterling and the Japanese Yen which led the advance on the greenback. 

The Dollar Index cemented its grip on an important support level Tuesday as major currencies ceded ground to the greenback after industrial production figures disappointed investors in the aftermath of a solid retail sales report, although technical analysts see only limited upside for the U.S. unit.

The greenback extended gains in a risk-off market Thursday, forcing the Pound-to-Dollar rate to test a key downside level, after March retail sales surprised on the upside following a deluge of negative economic numbers from Europe during the morning session.

The Dollar extended losses Monday after a retail sales figures for the month of February appeared to confirm the economy has shifted down a gear in recent months, strengthening some economists' convictions that the Federal Reserve (Fed) interest rate hiking cycle is now over.

The U.S. Dollar weakened Thursday after official data revealed a steep slump in retail spending during December that shocked financial markets the world over, although some analysts say a creaking global economy means there is only limited scope for the greenback to depreciate this year. 

The U.S. Dollar was riding high Friday following a strong set of November retail sales, which provided further support to a greenback already boosted by concerns over the Chinese economy and European growth. 

The Dollar strengthened Friday after U.S. retail sales surprised on the downside for August, in what appeared to be a classic sign of risk-aversion, as analysts contemplate what the numbers mean for the economic outlook.

The US Dollar pared back its earlier losses during noon trading Monday after the latest volley of US retail sales data showed consumer spending rising faster than was expected during the month of March.

Expectations for a repeat of last month’s soft retail sales numbers were scuppered as the United States Census Bureau reported numbers well ahead of expectations.

The U.S. dollar was in fine form in mid-week trade, bringing an end to the poor run we have seen over the course of April.