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US June retail sales data expected to rise – is anyone even aware that the Fed is hiking?

US June retail sales data expected to rise – is anyone even aware that the Fed is hiking?

US June 2023 retail sales data is due on 18 July 2023:

  • This
    snapshot from the ForexLive economic data calendar, access
    it here
    .
  • The
    times in the left-most column are GMT. The data is due at 0830 US Eastern time.
  • The
    numbers in the right-most column are the ‘prior’ (previous
    month/quarter as the case may be) result. The number in the column
    next to that is the consensus median
    expected.

The headline to my post is poking a bit of fun at the continued rise. Eyes are on the data, a miss will be construed as Federal Reserve rate hikes biting and diminishing demand and the probability of more hikes ahead, While a beat will the flipside and would give stocks a dip while the prospect of more hikes to come sinks in. Recent FOMC communication indicates there are still two hikes to come, though plenty of folks doubt that.

Via Scotia:

  • A 4.2% m/m SA rise in vehicle sales during June should contribute around a half percentage point to retail sales growth on its own, while price effects are expected to be minor and the key will be sales ex-autos and gasoline that have been beating consensus estimates every month this year

This article was written by Eamonn Sheridan at www.forexlive.com.

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