Retail sales have been really weak in Europe

Economic Events Outlook, Feb 14 – US Retail Sales Day

Posted Thursday, February 14, 2019 by
Arslan Butt • 2 min read

On Thursday, the Greenback held near three-month highs against the single currency Euro. The buck benefited from sustained strength in core US inflation and weak data out of Europe.

Today, the economic calendar is carrying few top-tier economic events from the Eurozone, UK, and the US. It’s going to be a volatile journey today especially the New York session. Let’s plan the day to capture the most out of it.

Watchlist – Key Economic Events Today

Eurozone – EUR

German Prelim GDP q/q During the European hours at 7:00 (GMT), investors will be monitoring the German GDP figures for Q4 2018. Destatis is anticipated to exhibit slightly better economic growth with output in the Eurozone’s top economy scoring 0.1%. The GDP dropped down to -0.2% in the preceding period.

Let me remind you that the slower growth in the economy will put pressure on the ECB president Mario Draghi to keep the accommodative monetary policy.

Flash GDP q/q – The Eurostat will also be releasing the Eurozone’s Flash GDP at 10:00 (GMT). Fellas, its one of the important events as it’s considered the broadest measure of economic activity and the primary gauge of the economy’s health.

Economists are expecting no change in the data this month, and a score of 0.2% remains on the cards.

Great Britain Pound – GBP

MPC Member Vlieghe is due to speak about the economic outlook and monetary policy at the Resolution Foundation in London at 9:30 (GMT). It can be a volatile event as the house will remain open for audience questions.

Answers to unstructured questions about the monetary policy are always the tricky ones and typically drives sudden moves in the market.

US Dollar – USD

Retail Sales m/m – The Census Bureau is due to release the retail sales data at 13:30 (GMT). It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. Unsurprisingly, retail sales and core retail sales are also negatively forecast.

This month, 0.1% rise in retail sales and 0% rise in core retail sales are on the cards. A lower number of sales leads to a lower inflation rate and a drop in economic growth. So, the negative data is likely to keep the dollar in a selling mode.

That’s it for now, stay tuned for forex trade setups and trading signals. Good luck!

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