U.S. retail sales likely to have improved in July, says TD Economics

U.S. retail sales is expected to have improved in July. According to a TD Economics research report, retail sales is likely to have rebounded 0.4 percent in July, led by a solid 0.5 percent rise in the control group, which excludes autos, gasoline station, food services and building material sales.

The earlier two monthly readings have been weak, especially for the control group, implying scope for a strong bounce back in July. Motor vehicle sales and gasoline stations are not likely to move the needle on headline sales, in line with little change observed in seasonally-adjusted gasoline prices and light weight vehicle sales.

“If realized, our projections would mark a solid start to the third quarter and would be consistent with real PCE growth of at least 2.5 percent, if not better”, added TD Economics.

At 21:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bearish at -75.4199. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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