OctaFX | OctaFX Forex Broker
Open trading account
Back

US retail sales expected to rise by 0.3% in October - SEB

FXStreet (Córdoba) - According to analysts from SEB (Skandinaviska Enskilda Banken), retails sales area likely to show an increase of 0.3% in the headline number in October when they are published on Friday, in line with market consensus of a 0.3 – 0.4% gain.

Key quotes:

“The October retail sales report was weak overall and missed expectations to the downside. That report came after several strong months however. Moreover, discretionary spending such as restaurants, sporting goods and furniture showed gains in September, what is at play here is that consumer spending is taking on a discretionary tilt. Retail control, which feeds directly into BEA’s consumer spending, slipped 0.1% in September, the first decline since April”.

The latest consumer confidence numbers from the Conference Board and University of Michigan moved in different directions but the levels are still consistent with a healthy consumer spending backdrop. We look for 0.3% growth in the headline in October”.

US stocks drop after 6-week rally

The stock markets in the US dropped in the early trading after a 6-week rally as investors react negatively to increased odds of Fed tightening in December.
Read more Previous

USD/JPY rejected from highs, back to square one

USD/JPY came under mild pressure after being rejected from fresh 2 ½-month highs as investors book profits and continue to weigh last Friday’s nonfarm payrolls report.
Read more Next
Start livechat