The US dollar fell sharply on Friday after data showed that consumer price index rose 0.2% on a month over month basis in April. This was a modest improvement following the 0.3% decline in March. Economists polled were expecting inflation to rise 0.3% instead.
Retail sales numbers were also soft, rising 0.4%, less than the forecasts of 0.6% increase. March’s retail sales numbers were revised from -0.2% to 0.1%.
The US dollar was seen trading subdued on today’s open. Economic data released so far showed China’s industrial production rise 6.5%, less than the expected 7.0%, while retail sales rose 10.7%, slightly below forecasts of 10.8%.
Read the Full Article at www.fxstreet.com >>>>
Posted by Arnaldo Rodgers on 4:21 pm, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry