US Retail Sales rise in November

In November, retail sales in the United States increased by 0.3% on a monthly basis, reaching $705.7 billion, according to data released by the US Census Bureau on Thursday. This figure marked an improvement from the revised 0.2% decline (previously reported as -0.1%) in October and surpassed market expectations, which anticipated a 0.1% decline.

Excluding automobile sales, retail sales increased by 0.2% in the same period, exceeding analysts’ expectations of a 0.1% decrease. The retail sales control group, a key metric that influences economic forecasts, experienced a 0.4% increase.

Following the release of the retail sales report and the weekly jobless claims figures, the US dollar regained some strength. The US Dollar Index (DXY) rebounded from monthly lows and reached the 102.50 area. Market participants will also be closely monitoring a press conference by European Central Bank President Christine Lagarde scheduled for 13:45 GMT.