Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
US retail sales statistics for January will be released at 13:30 GMT, today.
Why retail sales and US consumers are important?
- Domestic consumption of goods contribute about 25% of GDP or around $ 4 trillion as of 2014. Among this Durable goods such as vehicles, furniture account for only $1.3 trillion. Buying of non-durables such as food, clothing account for $2.7 trillion.
- Moreover services, which is not covered by retail sales account for 45% of the GDP and mainly consumed at home.
Past trends
- Retail sales as well as personal consumption expenditure have been growing in last few years, however pace of growth is yet to turn robust. Sales are expected to pick up due to holiday season.
- Except for growing 0.9% in March, 1.2% in May and 0.6% in July, retail sales have remained subdued throughout 2015. In four months last year growth has been negative.
Expectations today -
- Today, again it is expected to remain subdued and grow by just 0.1% in January.
Impact
- Dollar is under pressure due to fading rate expectations for 2016 and as expectations for a cut moves up, so a bad data won't be much of a help.
- Dollar can only find support if data comes very robust, somewhere above 1%.
