US retail sales expected to improve in July – Danske Bank

FXStreet (Edinburgh) - The US retail sales sector might show a small improvement after the weather-induced decline in previous months, suggested Senior Analyst Pernille Nielsen at Danske Bank.

Key Quotes

“In terms of data releases the main event is US retail sales for July, where we expect a modest 0.2% m/m increase”.

“This should follow as the temporary boost from the weather slump in early 2014 continues to wane. Excluding autos and gasoline retail sales are expected to show a more healthy gain, so the underlying trend remains OK”.

“New York Fed president Dudley (dove, voter) and Boston Fed president Rosengreen (dove, non-voter) are scheduled to speak this afternoon in connection with a conference covering Risks of Wholesale Funding”.

“It will probably be technical presentations with no views on overall monetary policy. That said, Dudley’s views are important because they are believed to be close to chairwoman Yellen’s”.