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USD Gained Some Strength After US Retail Sales


Wall Street opened lower on Tuesday after the US Census Bureau reported more modest growth in US retail sales for October. Meanwhile, World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus stated that the organization is extremely concerned by the surge in COVID-19 cases.

The US retail sales increased by 0.3% in October, following a downwardly revised 1.6% gain in September and below market expectations of a 0.5% increase.

In the FX markets, the dollar traded slightly better despite a downbeat in US retail sales. Meanwhile, the CAD declined in the New York session amid the risk-off tone.

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