US retail sales and consumer confidence the focus of market attention - TD Securities

FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities points out that the highlight of the US session in terms of economic data will be the release of US retail sales and consumer confidence numbers.

Key quotes

"We look for stronger auto sales to push headline sales 0.8% higher in August, with sales ex-autos rising a more contained 0.1%."

"Core sales should nevertheless show some acceleration, rising 0.4% following a lackluster 0.1% gain in the prior month."

"We additionally look for preliminary September Michigan confidence to climb to 85.0 from 82.5 – just a hair below cycle highs, mirroring recent improvement in the survey’s Conference Board counterpart."

"Business inventories will also be watched for potential Q3 GDP implications, and we look for a 0.4% increase in July."