The Greenback strengthened against the Eurozone’s single currency, following controversial US Retail Sales data release on Tuesday. The EUR/USD currency pair lost 17 pips, or 0.15%, and continued to go downwards, thus strengthening US dollar even more.
The Census Bureau released two datasets simultaneously, where Advance Retail Sales for the month of April came out lower-than-expected of 0.3%, compared to 0.6% in the previous period. Moreover, Core Retail Sales too came out to be short of expectations of 0.3%, compared to 0.2% in the previous month.
“Looking ahead, the consumer faces the added burden of higher gasoline prices,” said Michael Feroli, an economist at JPMorgan in New York.
