WHY RETAILS SALES?
This is the earliest and broadest look at vital consumer spending data; It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Retail sales data should show a spending rebound, with a little help from Amazon’s Prime Day
Consumers are likely to have increased their spending in October, after a surprising pullback in September. The government’s October retail sales report, due at 8:30 a.m. ET Friday, is one of the most important data releases of the next couple of weeks. The report, and November’s jobs data, will be the final two big economic releases the Fed will review before it meets Dec. 10. READ MORE
- Even the data is expected to be good; we believe the China-US Trade issues will over-shadow the price movement
- FED testimonial expected to be bearish for the USD
- The US And China Are Struggling To Complete A “Phase One” Deal – FT
Be cautious and always put money management as your number 1 priority with proper stop loss and good risk/reward.
Article by: Ashok MBA – Financial Coach