US Retail-Sales in Focus.

The focus today centres around US Retail sales. As per the preliminary estimates, the economic data has not shown any growth in retail demand. A stagnancy in consumers’ demand is not good for the economy but a sign of decline in the confidence of the consumers in the economy.

The vanilla UK inflation rate that includes the volatile food and energy prices shifted lower to 9.9% vs. the prior release of 10.1% and remained lower than the forecast of 10.2%. The decline in CPI comes at an opportune time as households are facing the headwinds of energy bills.

No. 10 has confirmed that a ‘Mini-budget’ budget is set to take place later this month, although Parliament is suspended. The new PM has vowed to cut taxes to boost the economy and help people with rising living costs. It is also expected that the government will also give details of last weeks energy plan.

According to reports from Bloomberg, the French power grid is running out of options to keep the lights on. The grid has issued a “red” alert. This will further limit the access to electricity to big industries that will have a knock-on effect to the nation’s GDP.


Economic Calendar

05:30JYP Tertiary Industry Activity m/m-0.1%-0.4%
07:00EUR German WPI m/m0.5%-0.4%
07:45EUR French Final CPI m/m0.4%0.4%
09:30GBP Consumer Inflation Expectations4.6%
10:00EUR Trade Balance-31.9B-30.8B
13:30USD Core Retail Sales m/m0.0%0.4%
13:30USD Empire State Manufacturing Index-12.7-31.3
13:30USD Retail Sales m/m-0.1%0.0%
13:30USD Philly Fed Manufacturing Index2.46.2
13:30USD Unemployment Claims225k222k
13:30USD Import Prices m/m-1.3%-1.4%
14:15USD Capacity Utilization Rate80.2%80.3%
14:15USD Industrial Production m/m0.0%0.6%
15:00USD Business Inventories m/m0.6%1.4%
15:30USD Natural Gas Storage71B54B
23:30NZD BusinessNZ Manufacturing Index52.7

*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time. CentralFX are not responsible for the rates shown.