US June retail sales to release tonight

RBC Capital Markets notes:

Tonight we get the first key release for the week out of the US-retail sales for June. Expectations are for some moderation of the very strong gains in May, and RBC is slightly below consensus. 

Our economists are calling for a headline print of 0.1%m/m (cons: 0.3%), weighed by some give back of the auto sales in May. And while we are also slightly lower on our control group estimate (RBC: 0.2%, cons: 0.3%), such details should still be consistent with our US teams' call for a firm 3% real consumption growth in Q2.