Dollar surges broadly in early US session after generally positive economic data.

Headline retail sales rose 1.6% mom in March versus expectation of 0.8% mom. That’s also the strongest rise since September 2017. Meanwhile, 12 of 13 major retail categories increased.  Ex-auto sales rose 1.2% mom versus expectation of 0.7% mom. Total sales from January through March rose 2.9% yoy.

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Initial jobless claims dropped -5k to 192k in the week ending April 13, below expectation of 207k. It’s also the lowest since September 6, 1969 when it was 182k. Four week moving average of initial claims dropped -6k to 201.25k, lowest since November 1, 1969. And the series seem to be trending down again. Continuing claims dropped -64k to 1.653m. Four week moving average of continuing claims dropped 022.75k to 1.713m.

Philadelphia Fed Manufacturing Business Outlook, however, droppped to 8.5, down from 13.7 and missed expectation of 11.0.


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