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14 Oct 2015
US retail sales in the limelight - Danske Bank
FXStreet (Delhi) – Research Team at Danske Bank, suggest that today's main event is the US retail sales data for September with the US economy, currently split between solid domestic demand driven by private consumption spending and weak exports that hurt the manufacturing sector.
Key Quotes
“Signs of weakness in the main US growth engine, personal consumption, would support the current dovish pricing of future Fed rate hikes. Consensus is looking for an 0.3% m/m increase in the important control group component (excluding sales of autos, gasoline, food and building materials) but we see downside risks to this as we estimate that the control group increased a more modest 0.1% m/m.”
Key Quotes
“Signs of weakness in the main US growth engine, personal consumption, would support the current dovish pricing of future Fed rate hikes. Consensus is looking for an 0.3% m/m increase in the important control group component (excluding sales of autos, gasoline, food and building materials) but we see downside risks to this as we estimate that the control group increased a more modest 0.1% m/m.”