The US dollar had a quietly mixed day yesterday, but made gains against both sterling and the euro. This came despite data from stateside falling short of expectations, as retail sales were further behind last month’s figures than expected. The headline figure showed an increase of just 0.1%, while last month’s was at 1.5%, but the dollar managed to survive big losses despite this. The reason being was that on a three month annualised basis, retails sales grew by 5.2%, highlighting that the US economy is gaining momentum.
Today holds just one major release, with the Producers’ Price Index from the country providing the main point of interest for dollar investors. As an indicator linked to consumer inflation, investors will look to this for a clue as to the overall health of the economy.
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