The US dollar (and the US economy) need a friend at the moment and once again the consumer is on deck with July advance retail sales to be released at the bottom of the hour. Sales are expected up 0.3% with the control group that excludes volatile items expected up 0.4%.

Wallets have been tight this year. The trend for advance retail sales, shown by the 4-month moving average, has been modest and turned lower in the summer.

Advance retail sales

Advance retail sales with 4-moth MA (red)

The dollar is higher against the yen and Swiss franc but an upbeat report will lead to broader strength. The strength could also last for days with little else on the US calendar this week.