UJ drop

Updated

It's a temporary situation
Just wait till September and see how dollar is going to be howkish

Note

June US retail sales -0.2% vs +0.1% m/m expected
Prior was -0.1% (Revised up from -0.3%)
Ex autos -0.2% vs +0.1% exp.
Prior ex auto -0.3% (unrevised)
Ex autos and gas -0.1% vs +0.4% exp
Control group -0.1% vs +0.3% exp

Disappointing numbers for the retail sales in June. Although there was a revision to the last months headline number, the string of numbers were all lower than expectations.

The USD is moving lower after the miss (CPI was also a bit weaker).
US stock futures are still mixed but the Nasdaq futures are up 13 points (which is better). The S&P futures are unchanged.
US debt yields are lower with the 2 year down about -3 bp and the 10 year down about -4 bps now (from down about -1 bp before the number).

nhantrung

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