The S&P had a mixed response to the data initially

Market Review Yesterday’s session was controlled by the US Retail Sales data that was announced at 13.30pm London time and the news was surprisingly positive as activity on the high street in April grew by 0.1% compared to March and so dispelled the theory that the sequester cuts would put a squeeze on retail sales. As a result JP Morgan and Goldman Sachs upped their Q2 GDP forecasts which puts a measure on how significant this data was. Initially the dollar strengthened as we had anticipated

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The S&P had a mixed response to the data initially

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