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Next key release in the US docket: Retail Sales – TDS

FXStreet (Edinburgh) - Strategists at TD Securities have highlighted the upcoming risk event in the US economy.

Key Quotes

“Spending momentum should remain on the weak side in October, and our expectation is for retail sales activity to post a very meager 0.2% m/m advance, marking a modest acceleration in spending momentum after essentially stalling during the prior two months”.

“Stronger auto sales and a rebound in gasoline sales should bolster the topline spending gains”.

“However, excluding autos and gas, sales should rise at a subpar 0.1% m/m. Core spending activity should also be quite weak, rising at a subpar 0.1% m/m pace, reflecting the weakening tone in underlying household spending activity”.

“The overall tone of this report should be weak, underscoring the falloff in consumer spending activity as the global headwinds to growth filter through to the rest of the economy”.

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