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
