The US dollar is dipping

The dollar tumbled after a slew of US data.

The US dollar index is down by 0.3% at 99.34 as of 8:51 a.m. ET.

Earlier, US retail sales came in weaker than expected.

Sales rose by 0.4% month-over-month in April, below expectations of 0.6%. Excluding gas and autos, sales rose by 0.3%, below the anticipated 0.4% uptick.

Moreover, US consumer prices rebounded as the cost of gasoline rose. The consumer price index, a basket of consumer goods that reflects price changes, rose 0.2% from March.

As for the rest of the world, here’s the scoreboard as of 9:03 a.m. ET:

  • The euro is up by 0.5% at 1.0914 against the dollar after data showed German GDP rose by 0.6% in the first quarter, in line with expectations, and German CPI held flat for April, also in line with expectations.
  • The Russian ruble is little changed at 57.0522 per dollar, while Brent crude oil, the international benchmark, is up by 0.4% at $US50.97 per barrel.
  • The Japanese yen is higher by 0.5% at 113.37 per dollar.
  • The British pound is little changed at 1.2885 against the dollar

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