Retail spending in the U.S. increased 1.2% in November to top expectations for a 0.6% rise, while the previous month’s reading was scaled back to reflect an expansion of 1.1% from an initial forecasts for a 1.4% rise. Moreover, sales less autos increased 1.2% after holding flat in October, while retail demands excluding autos and gas expanded 0.6% amid projections for a 0.2% rise.

Read more: DailyFX - U.S. Retail Sales Tops Forecast, Import Prices Jump on Higher Oil Prices http://www.dailyfx.com/forex/market_...#ixzz0ZPBdAmI8

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Orders for U.S. durable goods unexpectedly slipped 0.6% in October amid expectations for a 0.5% rise, while the previous month’s reading showed a 2.0% expansion from an initial forecast for a 1.0% increase. At the same time, durables excluding transports tumbled 1.3% after rising a revised 1.8% in September, and businesses may keep a lid on spending going into the following year as global trade conditions remain subdued.

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The Euro continues to trade higher following a 15 month high in German business confidence with the EUR/USD now looking to re-test 1.5000. The German IFO survey rose to 93.9 from 91.9 with both the current assessment and expectation component seeing improvement.

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