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January 2016

US retail figures disappoint

Published: Friday 15 January 2016

Today the US released figures for retail sales over the Christmas period. Core retail figures in the US were expected to show an improvement of 0.2% from the previous month, the actual figure was a contraction of 0.1% especially disappointment considering Christmas is usually a retailers busiest time.  As a result of the disappointing data, the USD came under pressure from the EUR. The EUR appreciated by more than a cent against USD, this has had a knock on effect for GBP with the EUR gaining almost 1.5% in value on the Pound.