Retail Inventories m/m comes in at 0.3% against 0.8% consensus

The latest U.S. Retail Inventories m/m report, released at 12:30 UTC, showed a print of 0.3% for September. This figure came in notably below the market consensus expectation of 0.8%, representing a -62.5% surprise. The previous month’s reading was 0.8%.

Following the release, the U.S. Dollar saw varied movements against major currencies. Fifteen minutes after the data, AUDUSD was up 14 pips, EURUSD gained 15 pips, and GBPUSD rose 15 pips. NZDUSD was up 13 pips. Conversely, USDCAD fell 20 pips, USDCHF dropped 17 pips, and USDJPY declined 25 pips. Gold, XAUUSD, moved up 207 pips. For context, the 15-minute moves for AUDUSD, NZDUSD, USDCAD, USDCHF, and USDJPY reached or exceeded their respective top-quarter release thresholds for 1-hour moves. EURUSD and GBPUSD saw moves above their median 1-hour moves but below their top-quarter thresholds. XAUUSD’s 207-pip gain was significantly above its median 1-hour move of 33 pips and its top-quarter threshold of 60+ pips.