The U.S. dollar was firm against most major currencies on Tuesday with stronger than expected retail sales data, and its safe haven appeal after the Federal Reserve chairman's comments that there is significant uncertainty about the pace of recovery supporting the uptick.
Data released by the Commerce Department showed retail sales in the U.S. rebounded by much more than anticipated in the month of May, skyrocketing 17.7%, after plunging by a revised 14.7% in April.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.