…maybe housing too but I don’t think that will last much longer.
The headline retail sales number is expected up 0.6% in June but I lean towards a more-perky number because vehicle sales were outstanding. The line to watch is the control group, which excludes autos, gas and building supplies. It’s expected to rise 0.5% after a flat reading in May.
I think we could see a US dollar whipsaw today. If retail sales is strong, the US dollar bulls will double down ahead of Yellen and until the hawkish words actually come out of her month, the risk is that she will be dovish.
