From Action Forex:
Mid-Day Report: Dollar Suffer Fresh Selling after Weak Sales
Dollar is under another round of selling pressure in early US session after another batch of weak economic data. Headline retail sales rose 0.0% in April versus expectation of 0.3%. Ex-auto sales rose 0.1% versus expectation of 0.4%. The data probably showed the correlation between job growth and spending and the weak April sales data was a reflection of the weakness and March job growth. Import price index dropped for the 10th straight month, by -0.3% mom in April. The dollar index is back below 94 handle at the time of writing. The development will be closely watched. Sustained trading below 94 in dollar index, and EUR/USD's decisive break of 1.1378/87 could trigger deeper another round of strong selling in the greenback....MOREFrom FinViz, the daily chart:
