When are US monthly retail sales figures and how could they affect EUR/USD?


US monthly retail sales overview

Thursday's US economic docket highlights the release of monthly retail sales figures, scheduled at 13:30 GMT. Consensus estimates point to modest growth of 0.3% for December as compared to the previous month's 0.2% increase. Sales excluding automobiles (core retail sales) are seen rising by 0.5% during the reported month as against a dismal 0.1% growth recorded in November. Meanwhile, the closely watched Retail Sales Control Group is expected to rise by 0.4% following a 0.1% increase in November.

As Joseph Trevisani, Senior Analyst at FXStreet explains: “Income, wages and the job market should continue to enable a healthy consumer economy. Removing the lingering fear of an ever worsening trade war with China should bolster consumer attitudes and return business spending and manufacturing jobs. Equity prices can only add to the general sense of economic well-being. The ingredients are in place for a burst of consumer spending.”

How could it affect EUR/USD?

According to Yohay Elam, FXStreet's own analyst, “Euro/dollar has advanced above the 50 and 100 Simple Moving Averages on the four-hour chart. Moreover, the currency pair broke above the downtrend support line that accompanied it since late December. All in all, bulls remain in control.”

Yohay also provided important technical levels to trade the major: “Resistance awaits at the fresh high of 1.1165, followed by 1.1205, 1.1230, and 1.1240, which were stepping stones on the way down. Support awaits at 1.1145, followed by 1.1125, a swing low early in the year). The next lines to watch are 1.1105 and 1.1085, which were low points in the past week.”

Key Notes

   •   US Retail Sales December Preview: ‘Twas the month after Christmas

   •   EUR/USD has room to rise ahead of US retail sales, ECB minutes – Confluence Detector

   •   EUR/USD Forecast: Will the gradual climb turn into a rally? Three keys to the next move

About US retail sales

The Retail Sales released by the US Census Bureau measures the total receipts of retail stores. Monthly per cent changes reflect the rate of changes in such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hits two-month lows amid USD strength

EUR/USD has pared its gains that followed upbeat preliminary PMIs for Germany came out above expectations, pointing to a recovery. The USD is advancing amid fears of the coronavirus.

EUR/USD News

GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains

GBP/USD is trading below  1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.

GBP/USD News

Cryptos: Bears take over and draw a bloody moon

Despite appearances, Bitcoin is the asset with the best risk/benefit ratio. The current falls are adjusted to the ranges of the previous rise. Downward momentum expires in the first half of February.

Read more

Gold rebounds above $1560

The XAU/USD pair dropped to a daily low of $1556.70 during the European trading hours as the easing worries over coronavirus becoming a global epidemic and a broad-based USD strength put the pair under bearish pressure.

Gold News

USD/JPY stuck in range around 109.50 amid China coronavirus concerns

USD/JPY sticks to its range play around the midpoint of the 109 handle amid rising fears of the Chinese coronavirus outbreak globally, upbeat Japanese CPI data and a minor bounce seen in the US dollar across the board. Focus shifts to US PMIs. 

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures