Any hopes for spring-time bringing green shoots to the US economy were just dealt a severe blow by the retail sales numbers. Sales fell 1.1% overall and 0.9% ex-autos.
The risk aversion trade is in play this morning and the data will only compound that move. Central bank bids have been seen in EUR/USD after the figures from the BIS, dealers report.
61.8% of yesterday’s rally is next support. That comes in at 1.3227.