US March retail sales +1.4% vs +1.3% expected

• Prior was +0.2%

Details:

• Ex-autos +0.5% vs +0.3% exp
• Prior ex autos +0.3% (revised to +0.7%)
• Control group +0.4% vs +0.6% expected
• Prior control +1.0% (revised to +1.3%)

This is a good set of headlines and the upward revisions nullify the slight miss on the control group. Never underestimate the spending power of the US consumer.

Fed pricing for the year ahead before the data was -102 bps and is unmoved in the immediate aftermath.

This article was written by Adam Button at www.forexlive.com.