All Eyes on US Retail Sales Today

All Eyes on US Retail Sales Today

The US consumer spending, as represented by Retail Sales, is expected to rise by 0.2% MoM in September after recording an unexpected increase of 0.3% in August. The July Retail Volume was revised lower to a 0.4% decline.

If the Core Retail Sales print below estimates or even match the forecasts, it could imply that consumers are feeling the pinch of widespread inflation notwithstanding some relief from falling prices at the gas station. It could weigh on the dollar temporarily, as expectations of steeper Fed rate hikes to tame inflation will overpower and keep the dollar bulls afloat. 

It’s worth noting that the US dollar’s reaction to the Retail Sales release could be influenced by the persisting risk trend and Fed rate hike expectations, as the data succeeds the all-important Consumer Price Index (CPI) release yesterday.

Friday’s US Retail Sales and University of Michigan (UoM) Consumer Sentiment data will be also closely scrutinized, as they will shed additional light on household trends amid rising interest rates and the ongoing cost of living squeeze.

Friday 14th October- Times are GMT+3

15.30 – US – Core Retail Sales m/m & Retail Sales m/m

Potential instruments to Trade: USD Crosses. 

17.00 – US – Prelim UoM Consumer Sentiment

Potential instruments to Trade: USD Crosses.

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