14 Apr 2014
US Retail Sales to grab all the attention - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, underlines the importance of today's US docket.
Key Quotes
"The best of this week's US economic data will probably come today, when we expect a strong retail sales increase (headline + 1.4% m/m, +0.9% ex-autos, both well above market consensus). CPI tomorrow should see core inflation unchanged at 1.6%, and we get housing starts, industrial production and the Beige Book on Wednesday."
"Plus, a lot of Fed speakers all week. Dovish Fed, lower Treasury yields and better data last week (especially claims and consumer sentiment) didn't do anything to help broader equity markets ignore the correction in the Tech sector, but when (if) that blows over, we are left with a very risk-friendly US policy and economic backdrop".
"Our long-term dollar bullish bias overall is going to have to be patient, and that includes the higher-beta space, with USD/CAD, AUD/USD and NZD/USD all stuck."
Key Quotes
"The best of this week's US economic data will probably come today, when we expect a strong retail sales increase (headline + 1.4% m/m, +0.9% ex-autos, both well above market consensus). CPI tomorrow should see core inflation unchanged at 1.6%, and we get housing starts, industrial production and the Beige Book on Wednesday."
"Plus, a lot of Fed speakers all week. Dovish Fed, lower Treasury yields and better data last week (especially claims and consumer sentiment) didn't do anything to help broader equity markets ignore the correction in the Tech sector, but when (if) that blows over, we are left with a very risk-friendly US policy and economic backdrop".
"Our long-term dollar bullish bias overall is going to have to be patient, and that includes the higher-beta space, with USD/CAD, AUD/USD and NZD/USD all stuck."