Hopes were high heading into today’s U.S. Retail Sales report, with analysts expecting that the primary measure of the consumers’ health would bounce back to 1.0% m/m after three consecutive declines of more than -0.5%.
U.S. retail sales rose in March for the first time since late last year as consumers stepped up purchases of automobiles and other goods, suggesting a sharp slowdown in economic growth in the first quarter was temporary.
More attention is being paid to politics than to actual market events. The U.S. labor market continues to be of great concern since an "unemployed or underemployed consumer does not consume" except for essentials such as food and energy.
The story of the day in North American markets was the renewed domination of the U.S. dollar which rallied against all the other major currencies today as a variety of factors helped the world’s reserve currency dominate.