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15 May

By Ahmed Mamdouh

Category: Forex News

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US retail sales rise less than analysts’ projections

Retail sales in the United States rose less than analysts’ projections in April, yet the U.S. dollar strengthened after the release of the data.

The volume of retail sales in April soared 0.3 percent, lower than forecasts of 0.4 percent rise, but March’s reading was revised up to 0.8 percent.

Core retail sales surged 0.3 percent last month, compared to forecasts and an upwardly revised of 0.5 percent and 0.4 percent respectively.

Another report from the U.S. showed that Empire State Manufacturing Index climbed to 20.1 in May from 15.8 in April, coming above estimates of 15.1.

The dollar index is meanwhile trading higher at 93.06, set for its second straight daily gain, as of 12:43 GMT.


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.

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