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    US Retail Sales beats estimates, PPI inline


    USDJPY, H1   

    US retail sales jumped 1.3% in April, and were up 0.8% excluding autos, much better than expected following a 0.3% headline decline in March, with the ex-auto component revised up to 0.4% from 0.2%. Excluding autos, gas, and building materials, sales climbed 0.8% versus a 0.1% gain previously (revised from flat). Auto sales bounced 3.2% to erase the 3.2% drop previously. Gasoline station sales increased 2.2% with back-to-back gains unwinding the 5.2% February decline. Non-store retailers increased 2.1%. Miscellaneous sales were up 1.5%. Clothing sales rebounded 1.0%. Health and personal care continued to post strong gains for a 3rd straight month, up 0.9% versus 1.3% previously.

     US April final demand PPI increased 0.2% with the core up 0.1%,  following March declines of 0.1% for both. On an annual basis, producer prices were flat (0.0%) versus -0.1% y/y previously, with the ex-food and energy component expanding 0.9% y/y after the 1.0% y/y gain in March. Inflation in the goods sector grew 0.2% in April after an identical 0.2% gain in March, with energy up 0.2% from 1.8% previously. Food prices fell -0.3% after the -0.9% decline in March. Inflation in the services sector rose 0.1% after an 0.2% decline.

    Two good pieces of news for the US economy, (particularly the retail figure).  The USD and US stock market futures both up

    on the news.  USDJPY spikes to 109.40 and EURUSD down to 1.1318.


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