Retail Sales (MoM) (US)
Event Date: Wednesday, March 15, 2023
Event Time: 12:30 CET
Retail Sales to Decline in February
Updated Sunday, March 12, 2023
We have seen some volatile numbers for retail sales. In May we saw a 17.7% surge as the country reopened and in June the increase was at 7.5%, but the pace of the increase slowed in July for both, core and headline sales and again in August, but in September we saw a reversal in the trend as sales increased by 1.9%. In October the increase slowed to 0.3%, while sales declined in November and December. They jumped by 5.3% in January but declined by 3% in February, although increased by nearly 10% again in March. In April they came flat at 0% while in May core sales declined by 0.7% and headline sales by 1.3%. In August we saw a decline but sales have been positive since then and are expected to increase by 0.2% in April after a 0.5% in March. In May we saw a 0.3% decline while June came at 1.0%. July was expected to slow to 0.2% but fell flat at 0.0%. In August we saw a 0.3% decline, while in September they came at 0.1%. In January we saw a strong 3.0% increase after the decline in December, but February is expected to show another decline of 0.3%. Please follow us for live coverage in real-time of the event by experienced analysts.
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About Retail Sales (MoM) (US)
Released by the U.S. Census Bureau, Retail Sales (MoM) is an aggregate measure of activity in the retail sector. It is calculated as a percentage change and made available to the public on a monthly basis.The Retail Sales report is widely viewed as a barometer of consumer confidence and spending. Higher than expected levels are interpreted as being positive for the U.S. economy and USD. A lagging or negative release is bearish toward the USD.
So the greenback is going to lose some ground?
The Buck lost around 15 pips on the headline number, but is reversing back up now since the control group was solid.
If EU/USD will be volatile,does it mean that go Bulish or Bearish?
Volatile means there will be action, but it may be on both sides, such as the small jump in EUR/USD, which is now reversing back down.