Single Currency Improves, US Retail Sales Ahead
The Euro/Dollar pair rose 0.23% to 1.2360. The German Wholesale Price Index increased to 0.0%. Today, the US features retail sales data. Retail Sales are projected to lift to 0.4%, after 2 consecutive drops. Core Retail Sales should stay at 0.2%. Tomorrow, Germany will announce ZEW Economic Sentiment, and the US will release Building Permits and Housing Starts.
On Friday, we got US consumer numbers. The data was rather negative. UoM Consumer Sentiment fell from 102.0 to the 3-month minimum of 97.2. Fed fund futures are still pricing in more than 95% odds of a June hike. Inflation was projected to pick up in the near term. The outlook has improved. Some issues, like trade tension with China, were mentioned as well. Overall, the Federal Reserve is optimistic about the US economy.
As of situation with attacks in Syria, the US-led strike diminished a few chemical installations in Syria. Russia and Syria expressed their indignation. Now that the operation is successfully complete, investors are hoping Trump won’t make another stir and everything will calm down.