{"id":89758,"date":"2016-05-16T06:41:54","date_gmt":"2016-05-16T10:41:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=89758"},"modified":"2016-05-16T06:41:54","modified_gmt":"2016-05-16T10:41:54","slug":"surge-in-us-retail-sales-and-consumer-confidence-boost-dollar","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/05\/surge-in-us-retail-sales-and-consumer-confidence-boost-dollar\/","title":{"rendered":"Surge in US retail sales and consumer confidence boost dollar"},"content":{"rendered":"
May 16, 2016<\/div>
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Article by ForexTime<\/a><\/p>\n

The US dollar gained a lift from upbeat US data released on Friday.<\/p>\n

US retail sales increased by 1.3 per cent in April, while US consumer confidence jumped to an 11-month high in May, according to the University of Michigan survey.<\/p>\n

The robust data raised hopes for a second quarter rebound in the US economy. This will further raise expectations of the Fed hiking interest rates again in coming months.<\/p>\n

Retail sales smashed expectations in April as numbers surged 1.3%, rebounding from a 0.3% decline in March. Core sales were up 0.8%. Economists expected a 0.8% sales upturn, with a 0.5% rise in core sales.<\/p>\n

After economic growth slowed to an annualized rate of just 0.5% in the first quarter, analysts have been looking for signs that the slowdown will prove temporary. But gloom has descended after non-farm payrolls rose much less than anticipated in April, a 160,000 rise contrasting with the consensus of a 202,000 increase.<\/p>

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However, the retail sales data may indicate that concerns over the demise of the American consumer have been greatly exaggerated.<\/p>\n

Meanwhile, the University of Michigan consumer sentiment index for May rose to its highest level since June 2015.<\/p>\n

The preliminary reading registered at 95.8, compared with a final April reading of 89.0. Economists had expected the May index would hold steady at 89.0.<\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Article by ForexTime The US dollar gained a lift from upbeat US data released on Friday. US retail sales increased by 1.3 per cent in April, while US consumer confidence jumped to an 11-month high in May, according to the University of Michigan survey. The robust data raised hopes for a second quarter rebound in […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-89758","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=89758"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89758\/revisions"}],"predecessor-version":[{"id":89774,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/89758\/revisions\/89774"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=89758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=89758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=89758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}