This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The US Commerce Department will be releasing the monthly retail sales figures. Forecasts for February 2020 show a 0.2% increase on the headline and the core for the month. This marks a modest slowdown from the 0.3% increase on both counts in the month before.
Amid the current market chaos, it is unlikely that the retail sales numbers will garner much attention, let alone move the markets. Due to the health crisis, the economic data covering retail sales could be put on the backburner.
Still, the data will reveal insights into how the US economy is faring as the world’s largest economy is now also affected due to the pandemic.
At the time, the US economy was somewhat insulated from the virus outbreak.
The consumer sentiment index, as measured by the University of Michigan, remained near the highs of 101.0. This was little changed from the preliminary estimates and was the second-highest on record so far.
Thus, there is a slight chance that the retail sales figures could match, if not be...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.