Retail sales numbers came in better than expected, with the headline number at 0.5% for July. The forecast was 0.4% and June’s data was revised from 0.1% to 0.3%. Core retail sales was also 0.5%. The forecast was 0.2%, and June’s number was revised up from 0.0% to 0.2%. This invites some risk appetite, which is bullish for the EUR/USD. Although this is good for the US economy, risk-on trading actually creates outflow from the USD, which has stood as one of the safe haven currencies. The market has found a resistance pivot at the 1.4280 level. The initial reaction after the better-than-expected retail sales figures ... (full story)