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14 September

By Ahmed Mamdouh

Category: Forex News

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US retail sales rise less than forecast in August

Retail sales in the United States rose less than analysts’ projections in August, yet the U.S. dollar managed to recover against a basket of major currencies.

The volume of retail sales in August soared 0.1 percent, lower than forecasts of 0.4 percent rise, where July’s reading was revised up to 0.7 percent.

Core retail sales surged 0.3 percent last month, compared to forecasts of 0.5 percent and a revised of 0.9 percent.

Another report from the U.S. showed that import prices were 0.6 percent down last month after a stall in July.

The dollar index is meanwhile trading higher at 94.65 after recovering from the session’s low of 94.31, yet still set for a weekly decline.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.