Highlights of the July US retail sales report:
– Retail sales +0.6% vs +0.6% expected
– Prior -0.3% (unrevised)
– Ex-autos +0.4% vs +0.4% expected
The story is the revisions. The headlines are a touch soft but factoring in the revisions, it’s a slightly stronger report than anticipated. It’s good news for the US dollar.
