The USD is moving lower after the US retail sales miss.

Retail sales were a "miss" across the board. Headline retail sales came in at -0.9% versus -0.1% estimate. The control group fell -0.8% prices +0.3% estimate. There were minor revisions to the prior month to the upside, but the data was not a good start to the year. The numbers may have been influenced by things like the California wildfires. Concerns about tariffs and higher prices may also been an impact. A general slowing is probably good after a solid second half of 2024 and especially since inflation has been elevated

The US dollar has move lower off the report:

EURUSD: The EURUSD has moved to a new session high near 1.0500 (the high price has reach 1.0497. The current prices at 1.0492). The price is moving away from a swing area between 1.0452 and 1.04677. Early today, the price moved above that swing area, then corrected back down into that swing area, before basing and moving higher.

USDJPY: The USDJPY is moving away from the cluster of MAs between 152.698 and 153.064. The price is trading currently at 152.135. The next target come in at 151.798, then a swing area near 151.20 – 151.34 and the low price for February at 150.922.

.Looking at the premarket stock indices, the major indices are marginally lower:

• Dow industrial average -64 points
• S&P index -1.7 points
• NASDAQ index -11.5 points

US yields have moved lower which may be helping things like stocks and also pushing the US dollar lower:

• 2-year yield 4.258%, -5.2 basis points.
• 5-year yield 4.320%, -6.6 basis points
• 10-year yield 4.468%, -5.6 basis points
• 30-year yield 4.685% -4.1 basis points