By forex calendar in Core Retail Sales m/m —

USD Core Retail Sales m/m, Nov 15, 2024

Core Retail Sales m/m: A Deeper Dive into Consumer Spending (November 15, 2024)

The Latest Data:

On November 15, 2024, the U.S. Census Bureau released the latest Core Retail Sales m/m data, revealing a month-over-month change of 0.1%. This figure falls short of the 0.3% forecast, representing a significant decline from the 0.5% reported in the previous month. This data has a High impact on the market, signaling a potential shift in consumer spending patterns.

Why Traders Care:

Core Retail Sales m/m is a key economic indicator that provides valuable insights into consumer spending habits. As consumer spending constitutes the majority of overall economic activity, this metric serves as a primary gauge of the health of the U.S. economy. A strong reading suggests robust consumer confidence and economic growth, while a weak reading may signal potential economic slowdown.

Understanding Core Retail Sales m/m:

Core Retail Sales, also known as Retail Sales Ex Autos, measures the change in the total value of sales at the retail level, excluding automobile sales. This exclusion is crucial because automobile sales tend to be highly volatile and can distort the overall picture of spending trends. By focusing on core retail sales, economists can get a more accurate view of the underlying consumer spending patterns.

The Impact of the Latest Data:

The latest data released on November 15, 2024, reveals a 0.1% increase in Core Retail Sales, significantly lower than the anticipated 0.3%. This disappointing result suggests a potential slowdown in consumer spending, which could have implications for broader economic growth.

What Does This Mean for the USD?

Generally, an 'Actual' reading exceeding the 'Forecast' is considered positive for the USD. However, the latest data, showing a lower-than-expected reading, could exert downward pressure on the USD. This is because a weakening consumer spending trend can signal reduced economic activity, potentially leading to a decline in the USD's value.

Looking Ahead:

The next release of the Core Retail Sales m/m data is scheduled for December 17, 2024. Market participants will be closely watching this release for further insights into consumer spending trends and their potential impact on the U.S. economy.

Key Takeaways:

  • Core Retail Sales m/m is a crucial economic indicator that provides insights into consumer spending.
  • The latest data reveals a weaker-than-expected reading, suggesting potential concerns regarding consumer spending patterns.
  • This data could exert downward pressure on the USD due to its implications for economic growth.
  • The next release on December 17, 2024, will be closely monitored for further insights into consumer spending trends.