US retail sales are coming up next with the FOMC due later

Author: Adam Button | Category: News

Big day for financial markets

Big day for financial markets
An important report on August retail sales has been overshadowed by the FOMC decision today. The numbers are due at the bottom of the hour and expected to show a 1.0% increase. If there's a big skew it will be from autos, which have been a hot market. That will put extra focus on the ex-autos and control group numbers.

At the same time as the data, we also get Canadian CPI, which is forecast to rise just 0.4% y/y. It's tough to see that one being a market mover for CAD, especially with oil on the move again.

At 1400 GMT, US housing is back in focus with the home builder survey from the NAHB. The consensus is 75 but I'll take the 'over'. Lennar was out yesterday with some very bullish commentary on housing. At the same time the business inventory report for July is also due.

We also get weekly oil inventories and comments from the ECB's Holzmann before the FOMC, which includes forecasts and a press conference.

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