This is the only important US data this week, and we couldn't ignore this piece of data. It also govern the move of USD pairs on Thursday and Friday.
We know that Retail Sales affect to CPI : the most important data which FED is watching, only a pick up of can trigger a reaction of FED on rate.
Next week, we have a FED meeting where has a Conference. It means FED will watch US Retail Sales to give the comment for current . is the problem which FED care the most because they don't worry much about labour market : It 's still on the track.
Hence, US tomorrow indeed a strong data could bring and .
Traders should abandon this data, but the problem is : IS IT NEGATIVE OR POSITIVE ?.
As Sforex members , most of us believe the data would be POSITIVE.
Summer coming, Earning pickup, job plenty v.v.. all contribute to a pickup of Retail Sales.
Some economists express their worry about strong Dollar. It harms to US export, and the decline of oil price affects to oil industry, but I think this could be controllable.
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