US: Retail Sales rise by 1.3% in October vs. 1% expected

• Retail Sales rose at a stronger pace than expected in October.
• The US Dollar Index edged higher with the initial reaction.

Retail Sales in the United States (US) rose by 1.3% in October to $694.5 billion, the US Census Bureau reported on Wednesday. This reading came in better than the market expectation for an increase of 1%.

"Total sales for the August 2022 through October 2022 period were up 8.9% from the same period a year ago," the publication read.

Retail Sales ex Autos expanded by 1.3% in the same period, compared to analysts' estimate of 0.4%.

Market reaction

With the initial reaction, the US Dollar Index extended its recovery and was last seen losing 0.27% on the day at 106.28.