Oct 15 – Economic Events Outlook – US Retail Sales in Highlights!
Arslan Butt • 1 min read
The US dollar traded bearish against the basket of currencies as investors diminished their Greenback holdings on lower US Treasury yields and a weaker-than-forecast rise in domestic consumer prices in September.
Speaking about the fundamentals, the economic calendar is offering some top-tier economic events. Today’s main events are Retail Sales and Core Retail Sales from the United States. Are you up for it?
Watchlist – Key Economic Events Today
The Census Bureau is due to release the retail sales data at 12:30 (GMT). It’s the primary gauge of consumer spending which accounts for the majority of overall economic activity.
Economists look very optimistic about the retail sales as the figures are expected to jump by 0.7% vs. 0.1% beforehand. Considering this, investors are likely to continue trading the dollar with a bullish sentiment.
USD – Core Retail Sales m/m
This also shows a change in the total value of sales at the retail level, excluding automobiles. The data is due at 12:30 (GMT) and the retail sales are expected to grow by 0.4% vs. 0.3% beforehand.
CAD – BOC Business Outlook Survey
At 14:30 (GMT), the Bank of Canada will be reporting the Canadian business outlook. Actually, it’s a survey of about 100 businesses which asks respondents to rate the relative level of general business conditions, such as sales growth, investment in machinery, employment, inflation expectations, and credit conditions.
This particular report is highly respected as traders try to determine the monetary policy decisions based on the survey results.
The Statistics New Zealand is due to release New Zealand’s inflation figures at 21:45 (GMT) with a positive forecast of 0.7%. Prices increased by only 0.4% QoQ in Q2, which is why the New Zealand dollar is likely to remain supported today.