March retail sales coming up
The story this week so far is the rally in the pound and the euro. The US dollar is a tad on the soft side but it will have plenty to digest at the bottom of the hour.
That's when the March report on retail sales is due. The consumer has been a soft spot for the US economy so far this year but the Fed thinks it's largely due to residual seasonality and statistical discrepancy.
Economists are expecting a bounce back in the March data via a +0.4% m/m reading and +0.3% on the control group.
Released at the same time, the April Empire Fed is forecast to slip to +18.6 from +22.5 but the market reaction will be driven by the retail sales report.
For more, check out the economic calendar.
