Data released moments ago by the US Census Bureau showed that US retail sales rose better than market expectations, with sales rising by about 0.7% to $724.6 billion compared to a 0.5% increase in the revised October reading, while expectations indicated a 0.6% increase and a 3.8% increase on an annual basis.

In detail, sales of auto and spare parts trade rose by 6.5% from 1.8% on an annual basis, while sales of non-store retailers rose by 9.8% compared to 1.4% in October.

Core sales excluding auto prices grew by 0.2% in January, missing expectations of a 0.4% growth.