US retail sales control group
- Prior was -0.8% (revised to -1.1%)
Details:
- Ex-autos +0.3% versus +0.5% expected.
- Prior ex-autos -0.6% (revised to -0.8%)
- Control group 0.0% versus +0.4% expected
- Prior control group -0.4% (revised to -0.3%)
- Retail sales ex gas and autos +0.3 % -0.5% prior
The market is largely ignoring this and focused on stronger PPI and a better initial jobless claims report. I think that's a mistake. Retail sales is the most-forward looking of the releases and this is the second weak number in a row.
Update: It was a mistake as the moves have now faded and the dollar is back to pre-data levels.
