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US retail sales, Euro area Q3 GDP – RBS

FXStreet (Barcelona) - The RBS Research Team comments on the main focus to remain on the release of the European Q3 GDP data and the US retail sales data to be released later in the day.

Key Quotes

“While the consensus expectation is for a rise of 0.1% qoq and 0.7% yoy, risks look skewed to the downside, particularly from Germany given the recent disappointing industrial and manufacturing production data.”

“US retail sales will give an indication of whether US consumption has bounced back in October after September’s fall. Consensus expectations are for a 0.2% mom rise for both the total and the ex auto measure. Underlying fundamentals still look to be positive for consumption given rising consumer confidence and real wages running around 3% yoy.”

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