FXstreet.com (Barcelona) - U.S retail and food sales have declined 0.1% in July, instead of the 0.8% forecasted by market analysts, while excluding autos, sales of all other products have dropped 0.6% showing that private consumption, one of the main contributors to U.S. GDP is not picking up at the expected pace despite signs of economic recovery.

EUR/USD has dropped from intra-week high at a.4325 to levels below 1.4300 after retail sales were released, and the Euro trades now around 1.4285.

GBP/USD has declined from intra-day high at 1.6665 to test 1.6600 support level minutes after retail sales data was released.