U.S. retail sales unexpectedly fell | 16 June 2022

GBPUSD trading plan:

U.S. retail sales unexpectedly fell in May as motor vehicle purchases declined amid rampant shortages, and record high gasoline prices pulled spending away from other goods. Retail sales dropped 0.3% last month. Data for April was revised lower to show sales increasing 0.7% instead of 0.9% as previously reported. The decline in monthly retail sales was led by receipts at auto dealerships, which dropped 3.5%, the largest fall in nearly a year, after increasing 1.8% in April. China's zero COVID-19 policy has exacerbated a global semiconductor shortage. Online store sales fell 1.0%. There were declines in sales at electronics and appliance retailers as well as furniture stores. But sales at building material, garden equipment and supplies stores gained 0.2%. Receipts at sporting goods, hobby, musical instrument and book stores increased 0.4%.

Investment idea: buy 1.2050 and take profit 1.2110.