USDJPY, H1
US retail sales jumped 1.3% in April, and were up 0.8% excluding autos, much better than expected following a 0.3% headline decline in March, with the ex-auto component revised up to 0.4% from 0.2%. Excluding autos, gas, and building materials, sales climbed 0.8% versus a 0.1% gain previously (revised from flat). Auto sales bounced 3.2% to erase the 3.2% drop previously. Gasoline station sales increased 2.2% with back-to-back gains unwinding the 5.2% February decline. Non-store retailers increased 2.1%. Miscellaneous sales were up 1.5%. Clothing sales rebounded 1.0%. Health and personal care continued to post strong gains for a 3rd straight month, up 0.9% versus 1.3% previously.
US April final demand PPI increased 0.2% with the core up 0.1%, following March declines of 0.1% for both. On an annual basis, producer prices were flat (0.0%) versus -0.1% y/y previously, with the ex-food and energy component expanding 0.9% y/y after the 1.0% y/y gain in March. Inflation in the goods sector grew 0.2% in April after an identical 0.2% gain in March, with energy up 0.2% from 1.8% previously. Food prices fell -0.3% after the -0.9% decline in March. Inflation in the services sector rose 0.1% after an 0.2% decline.
Two good pieces of news for the US economy, (particularly the retail figure). The USD and US stock market futures both up
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