Solid set of US data, if clearly very sensitive to the inputs from geopolitics month to month
US data overall broadly fits with decent underlying resilience on the consumer (noise over gasoline looked through) while business surveys continue to show strong recoveries - that likely in part reflect eased geopolitics, and so retaining that contingency going forward, given renewed concerns over current developments.
Retail sales ex autos/gasoline 0.4% vs 0.8% (previously 0.4%). Philly Fed 41.4 from 10.3 (mkt 13), with orders at 37. Initial claims also slip back a little, 208k from 216k.
Data tends to underscore ongoing robust underlying momentum at least when Iran worries and energy prices relent.
Not enough to give the FX market a particular impetus other than to remind of features that had seen the market get so long dollars.