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US retail sales rise 1.6% in March

US retail sales rise more than forecasts

Retail sales in the United States saw a higher than forecasts rise in March, buoyed by higher demand on motor vehicles and gasoline stations.

The volume of retail sales soared 1.6 percent last month, the most since September 2017, compared to forecasts of 0.9 percent advance, while the previous reading was -0.2 percent.

Core retail sales edged up 1.2 percent from an upwardly revised of -0.2 percent. That was above estimates of 0.7 percent rise.

Another report from the U.S. showed that the number of initial jobless claims slipped to a 49-year low of 192,000 last week from a revised of 197,000 a week earlier.

The dollar index traded higher at 97.02, yet it erased some of the earlier gains when it marked a peak at 97.24, as of 12:50 GMT.

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