US: Retail sales in focus – TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities point out that the US retail sales data for June is due today and they expect a 0.3% increase in sales in the key control group (mkt 0.3%) to be the main driver behind a 0.1% headline gain (mkt 0.2%), as consumer fundamentals remain sound.

Key Quotes

“A firm increase in core sales should more than offset both a decline in sales at gasoline stations, which reflects a drop in gasoline prices in June, and a minor retreat in auto sales following a 0.6% increase in May. Similarly, we anticipate a solid 0.4% gain on manufacturing activities to be the main catalyst behind a 0.2% increase on industrial production for June.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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