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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD extends sideways grind around 1.1650 after mixed US data

EUR/USD is struggling to find direction on Thursday and continues to fluctuate in a relatively tight range around mid-1.1600s. Mixed data releases from the US don't seem to be having a noticeable impact on the greenback's performance against its major rivals.

EUR/USD News

GBP/USD struggles to pull away from 1.3800

GBP/USD retraced a portion of Wednesday's during the European trading hours pressured by the renewed USD strength and the souring market mood. With the latest US data failing to trigger a reaction, the pair stays in a consolidation phase near 1.3800.

GBP/USD News

XAU/USD struggles for direction, flat-lined above $1,780 level

The risk-off impulse in the markets extended some support to the safe-haven gold. Elevated US bond yields, a modest USD strength capped the upside for the metal. Bulls need to wait for a move beyond the $1,800 mark before placing fresh bets.

Gold News

Buying Solana now to gain 700% profits by 2022

Solana price has been on a massive run-up in 2021 from $1 to $216 in roughly eight months. This stellar climb is likely to continue into 2022 as significant bullish signs emerge. Moreover, the start of a new bull run will serve as a tailwind for SOL.

Read more

Netflix: Three reasons to sell NFLX after earnings

NFLX has been strong into earnings as investors digested the massive success of Squid Game and hoped this would feed through into very strong subscriber numbers. Netflix was out straight after the bell with earnings.

Read more

Forex MAJORS

Cryptocurrencies

Signatures