• Retail Sales in the US were virtually unchanged in April.
• US Dollar Index stays deep in negative territory below 105.00.

The US Census Bureau reported on Wednesday that Retail Sales in the US were virtually unchanged on a monthly basis at $705.2 billion in April. This reading followed the 0.6% increase recorded in March and came in below the market expectation of 0.4%.

"Total sales for the February 2024 through April 2024 period were up 3.0% from the same period a year ago," the press release read. "Retail trade sales were virtually unchanged from March 2024, but up 2.7% above last year. Nonstore retailers were up 7.5% from last year, while food services and drinking places were up 5.5% from April 2023."

Market reaction

The US Dollar stays under bearish pressure following the disappointing Retail Sales data. At the time of press, the US Dollar Index was down 0.37% on the day at 104.65.