The Greenback advanced following the retail sales print, which saw retail sales much stronger than expected. Initial jobless claims were a bit higher than forecast, though continuing claims were much lower. The Philly Fed index headline surged higher. Yields jumped after much stronger than expected data. The 10-year note is underperforming with the rate up 4 bps to 1.338% after trading in the 1.29% area prior to the releases. It richened to the 1.258% support region yesterday from where it has bounced. Wall Street is mixed with the USA30 having firmed into the green while the USA500 and USA100 are still in the red.
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Stuart Cowell
Head Market Analyst
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