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Politics has taken center stage in the US, with even the latest polls pushing the markets.
We can expect the economic situation to play a strong role in people’s decisions on who to vote for. Therefore, economic data is getting the political treatment in many media outlets.
But that doesn’t help traders who need real data to understand how the market is reacting.
The pace of the US economic recovery is controversial, especially as Europe enters its version of a second wave.
However, the underlying situation of consumer confidence is best measured by where people are putting their money. The actual economic situation of the population is more accurately measured by whether or not they are, indeed, spending money.
Retail sales naturally took a dive during the first phase of the pandemic.
Once lockdowns started lifting and government assistance became available, retail sales subsequently spiked higher to meet pent-up demand.
Through summer, retail sales remained hig...
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