US retail sales overview The US economic docket at the start of a new trading week highlights the release of monthly retail sales figures, scheduled at 1230 GMT. Consensus estimates point to a 0.5% m/m rise in June as compared to a 0.8% growth reported in the previous month. Meanwhile, core retail sales, which exclude automobiles, are projected to have expanded by 0.4% on a monthly basis, following a 0.9% increase in May. How could it affect the US Dollar index (DXY)? A disappointing reading might further fuel concerns that escalating US-China trade tensions is influencing consumer sentiment and impact negatively on the USD, albeit firming Fed rate hike expectations might continue to limit any sharp downfall. Focusing on the key US Dollar Index, a breach of the 94.45 immediate support (10-day SMA) is likely to open the room for a test of 94.00 handle ahead of 93.70 support area (July 9 swing low). Conversely, a stronger than expected print should provide a minor boost to the greenback and lift the index back towards the key 95.00 psychological mark. A follow-through up-move is likely to confront resistance near the 95.25 region ahead of YTD high level of 95.53 touched on June 28. Key Notes “¢ Key events ahead for Monday: US June retail sales are up – Westpac “¢ US Retail Sales preview: is all about the trade war these days “¢ US Dollar finds some support near 94.60 ahead of key data About US retail sales The Retail Sales released by the US Census Bureau measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Retail sales likely to rise by 0.4% in June – TDS FX Street 5 years US retail sales overview The US economic docket at the start of a new trading week highlights the release of monthly retail sales figures, scheduled at 1230 GMT. Consensus estimates point to a 0.5% m/m rise in June as compared to a 0.8% growth reported in the previous month. Meanwhile, core retail sales, which exclude automobiles, are projected to have expanded by 0.4% on a monthly basis, following a 0.9% increase in May. How could it affect the US Dollar index (DXY)? A disappointing reading might further fuel concerns that escalating US-China trade tensions is influencing consumer sentiment and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
