US Economic Data Helps Dollar

Economic data from the United States was good today, helping the dollar to gain on the euro after yesterday’s drop. The greenback maintained the rally even though reports from the eurozone were good too.
Retail sales increased 0.3% in October, a bit more than analysts have expected — 0.2%. Sales were down 0.3% in September. (Event A on the chart.)
Both import and export prices fell in October. Import prices were down 1.3%. While the drop was bigger than the September’s decline by 0.6%, it was not a big as the median forecast of a 1.7% fall. Export prices edged down 1.0% after falling 0.4% in the previous reporting period. (Event A on the chart.)
Preliminary Michigan Sentiment Index climbed from 86.9 in October to 89.4 in November, exceeding market expectations of 87.3. (Event B on the chart.)
Business inventories grew 0.3% in September, matching economists’ predictions, after rising 0.1% in the preceding month. (Event B on the chart.)

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