US retail sales rise 0.5%, April revised a bit higher

The headline number was as expected while ex-autos the figures were firmer than expected, up 0.5%. The fact that the economists got it close is remarkable given that they did not have WalMart sales to plug into their models.

Combined with improved jobless claims, this is a good number for the economy. The market will likly play the reflation game and the buck may not benefit….EUR/USD trades at 1.3960.