Retail Inventories excl. Autos m/m comes in at 0.3%

The U.S. Retail Inventories excluding Autos month over month figure was released at 0.3%. This follows the previous month’s reading of 0.4%. No consensus figure was available for this release.

Following the release, market reactions across major currency pairs and gold have been relatively subdued compared to historical movements. Fifteen minutes after the data, AUDUSD was up 1.9 pips, while EURUSD was down 2.5 pips. GBPUSD was down 1.9 pips, and NZDUSD saw a minor decrease of 0.2 pips. USDCAD moved up 4.5 pips, USDCHF was up 2.7 pips, and USDJPY gained 4.7 pips. Gold, XAUUSD, was down 24 pips. For context, the median 1-hour move after past releases for AUDUSD is typically 8 pips, for EURUSD 10 pips, for GBPUSD 13 pips, for NZDUSD 7 pips, for USDCAD 11 pips, for USDCHF 9 pips, for USDJPY 10 pips, and for XAUUSD 33 pips. The observed moves so far are generally smaller than these typical median 1-hour movements.