A preview of the US Retail Sales data due on Tuesday (14 April 2015) at 1230GMT:
Via BoA/Merrill Lynch:
Following better readings on the US economy over the past week:
- including ISM non-Manufacturing and weekly Jobless Claims
The markets have now more than priced out the impact of last Friday's very weak US jobs report for March
We have been looking for US economic data to bounce back starting with Retail Sales for March:
- As the weather improved significantly during that month
- To that end our own BAC card spend data for March showed a sharp rebound in core (ex. autos and gasoline) spending to +0.9% (MoM, SA)
- That suggests the rebound in the US economy is alive and well, and that the Fed's acknowledgement of weakness at the March FOMC meeting may have marked the trough in data
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I had earlier previews of the US Retail Sales data up yesterday: US data coming up this week .... preview of retail sales