13 May 2015
Credit Agricole: Expect a solid rebound in US retail sales data – eFXnews
FXStreet (Barcelona) - According to Credit Agricole, today’s US ex-auto retail sales might rebound to 0.6%, and further expects US economic growth to move to the upside during the rest of 2015, as noted by eFXnews.
Key Quotes
“We expect a solid rebound in ex-auto (0.6% vs. 0.5% market) and also look for a firm rise in the core measure.”
“A pickup in ex-auto and core components could add to the case that the US economy looks poised to recovery in Q2. This would coincide with the recent string of upbeat data that has been largely overlooked, ranging from the service sector PMI to the NFIB Small Business Optimism Index. Notably, the former points to annualized growth over 4% while the latter leads consumer sentiment. The NFIB report also showed broad-based improvement with only one component deteriorating in April.”
“On the whole, we still think the tailwinds from lower oil prices, strong employment growth and upbeat consumer confidence point to upside risks in economic growth during the rest of the year. This should help lift the USD in turn.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“We expect a solid rebound in ex-auto (0.6% vs. 0.5% market) and also look for a firm rise in the core measure.”
“A pickup in ex-auto and core components could add to the case that the US economy looks poised to recovery in Q2. This would coincide with the recent string of upbeat data that has been largely overlooked, ranging from the service sector PMI to the NFIB Small Business Optimism Index. Notably, the former points to annualized growth over 4% while the latter leads consumer sentiment. The NFIB report also showed broad-based improvement with only one component deteriorating in April.”
“On the whole, we still think the tailwinds from lower oil prices, strong employment growth and upbeat consumer confidence point to upside risks in economic growth during the rest of the year. This should help lift the USD in turn.”
This content has been provided under specific arrangement with eFXnews.