US Retail Sales remained flat MoM in July

Retail Sales in the US stayed virtually unchanged at $682.8 billion in July, the data published by the US Census Bureau showed on Wednesday. This reading followed June’s increase of 0.8% and came in slightly weaker than the market expectation of +0.1%. “Total sales for the May 2022 through July 2022 period were up 9.2% from the same period a year ago,” the publication further read. “The May 2022 to June 2022 percent change was revised from up 1.0% to up 0.8%.”

The USD holds steady after the US Census Bureau reported that the US Retail Sales remained flat MoM in July. The USD/JPY pair prolongs its one-week-old ascending trend and gains traction for the second straight day on Wednesday. The pair maintains its strong bid tone through the early North American session and is currently placed just below mid-135.00s, or over a one-week high.