Retail Sales m/m (USD) comes in at 1.2% against 0.3% consensus

USD Retail Sales m/m came in at 1.2%, significantly exceeding the consensus estimate of 0.3%. This print represents a 300.0% surprise compared to expectations. The previous month’s figure was -0.6%.

Following the release, market reactions varied across pairs over the first 15 minutes. EURUSD rose 5.5 pips, GBPUSD gained 7.7 pips, and XAUUSD increased by 44 pips. AUDUSD moved -0.6 pips, NZDUSD moved -1.5 pips, USDCHF moved -1.9 pips, and USDJPY moved -0.1 pips. USDCAD saw a +0.9 pips change. For most pairs, these initial moves are relatively small when compared to their typical median 1-hour moves, such as 13 pips for EURUSD, 15 pips for GBPUSD, and 9 pips for AUDUSD. XAUUSD’s 44 pips move is larger than its median 1-hour move of 35 pips.