Three Currencies to Watch This Week
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What Do Retail Sales Mean for the US Economy?
Information is not investment advice
What will happen?
The US will publish Retail Sales and Core Retail Sales on July 15, at 15:30 GMT+3. Both indicators demonstrate a change in the total value of sales at the retail level. Core Retail Sales differs from the primary indicator as the former does not count automobile sales.
Why is it important?
The retail data helps track consumer spending, which accounts for most of the overall economic activity. If the economic activity escalates, the country's overall economic health improves. In the previous release, both Retail Sales and Core Retail Sales were lower than the forecasts. The headline Retail Sales dropped by 0.3%, while the Core Retail Sales were at 0.5% (vs. 0.7% expected). Despite that, EURUSD showed a mixed reaction to the release. If you bought EURUSD on that day with one lot, you could have earned more than $130.
How to trade on US Retail Sales and Core Retail Sales?
The indicators are likely to influence the USD pairs. You should wait for the releases and compare actual figures with forecasted ones in the economic calendar.
- If the actual numbers beat expectations, the USD will go up.
- On the contrary, lower numbers will pull the USD down.
Instruments to trade: XAUUSD, EURUSD, USDCAD, USDCHF.
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