US retail sales were expected to rise by 0.1% in October, but they exceeded expectations with +0.4%. The same growth rate of 0.1% was predicted in core sales but also here, core sales rose above predictions, by 0.2%. CPI was expected to remain flat but fell by 0.1%. Core CPI carried expectations of a minimal rise of 0.1% and that is exactly what happened. Core CPI remained at a level of 1.7% year over year.
Before the publication, EUR/USD traded at 1.3525 and USD/JPY was just under 100. After the release, USD/JPY is above 100 once again as the battle continues, and EUR/USD is down to 1.3515.
The dollar was generally weaker in recent days, but it stabilized and began looking for a new direction today.
