
The dollar index (DXY00) today is down by -0.15%. The dollar today gave up overnight gains and turned lower as T-note yields fell on the weaker-than-expected US May retail sales report. The dollar today initially moved higher based on comments from New York Fed President Williams, who said the US economy is "moving in the right direction." Also, today’s stronger-than-expected report on US Apr manufacturing production was bullish for the dollar.
US May retail sales rose +0.1% m/m, weaker than expectations of +0.3% m/m. Also, Apr retail sales were revised downward to -0.2% m/m from the previously reported unchanged m/m.