U.S. Retail Sales Unexpectedly Drop

Retail sales in the U.S. unexpectedly decreased in the month of January, the Commerce Department revealed in a report on Wednesday. The Commerce Department said retail sales fell by 0.3 percent in January compared to economist estimates for a 0.2 percent uptick in sales.

Revised data showed that retail sales were unchanged in December compared to the previously reported 0.4 percent increase. Excluding a decrease in sales by motor vehicle and parts dealers, retail sales were unchanged in January after inching up by 0.1 percent in December. Ex-auto sales had been expected to climb by 0.4 percent.

At 8:30 am ET Wednesday, U.S. CPI and retail sales for January have been released. The greenback advanced against its major rivals after these data. The greenback was worth 1.2297 against the euro, 107.34 against the yen, 0.9353 against the franc and 1.3830 against the pound around 8:32 am ET.