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USD Gained Some Strength After US Retail Sales

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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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