Dollar is sold off sharply in early US session after way worse than expected December retail sales data. Headline sales dropped -1.2% versus expectation of 0.1% mom rise. That’s also the largest decline in nine years since September 2009. Ex-auto sales dropped -1.8% versus expectation of 0.0% mom.

Initial jobless claims rose 4k to 239k in the week ending February 9, above expectation of 225k. Four-week moving average of initial claims rose 6.75k to 231.75k, highest since January 27, 2018. Continuing claims rose 37k to 1.773M in the week ending February 2. Four-week moving average of continuing claims rose 9k to 1.750M.

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Also from the US, headline PPI slowed to 2.0% yoy in January, down from 2.5% yoy and missed expectation of 2.1% yoy. PPI core slowed to 2.6% Yoy, down from 2.7% yoy but beat expectation of 2.5% yoy.

From Canada, manufacturing sales dropped -1.3% mom in December versus expectation of 0.7% mom. New housing price index was flat mom in December.

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