Breaking: US Retail Sales rise 1% in June vs. 0.8% expected

Retail Sales in the US rose by 1% on a monthly basis to $680.6 billion in June, the data published by the US Census Bureau showed on Friday. This print followed May's contraction of 0.1% (revised from -0.3%) and surpassed the market expectation for an increase of 0.8%. 

"Total sales for the April 2022 through June 2022 period were up 8.1% from the same period a year ago," the publication further read. "Retail trade sales were up 1.0% from May 2022, and up 7.7% above last year."

Market reaction

The greenback gathered strength and started to erase its daily losses on upbeat data. The US Dollar Index was last seen losing 0.2% on the day at 108.42.