Goldman Sachs Raises USD/JPY Forecast, Sees Yen Weakness Persist Through 2027 
Smartphones are helping filmmakers tell the stories the movie industry overlooks 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone 
Alcohol is one of the most dangerous drugs, yet its presence is ubiquitous in social settings and celebrations 
USA at 250: the Black American struggle for life, liberty and the pursuit of happiness 
Trump has made more than $1 billion from crypto in a year. How? 
Gold Surges Past $4150 on Dovish Fed Signals and Weak Jobs Data; Bullish Outlook Prevails 
In a rebuke to Trump, the Supreme Court rules that birthright citizenship is the law of the land 
State of emergency in Crimea as Ukraine focuses pressure on ‘jewel in Putin’s crown’ 
Bernstein Names IAG, Ryanair as Top European Airline Stocks Ahead of Earnings 
Today at 12:30 GMT, US Census Bureau will declare retail sales figure for May.
- In April retail sales excluding autos grew by 0.1%, while headline figure failed to grow at all. Today market is expecting solid growth in May, with headline figure growing 1.1% on monthly basis and sales to grow 0.7% excluding autos.
If retail sales surprise to the upside or even bounce back as expected Dollar will have a strong showing, if not Dollar index is likely to move lower to test its recent low around 93.3. Dollar index, which is value of dollar against basket of currencies is trading at 95.06, up 0.45% today so far.
Why retail sales are so vital for US now?
- Retail sales are proxy for domestic demand from consumers' side and US really is a consumption oriented economy.
- With strong dollar creating headwinds for exporters, lower commodity prices lowering investments in the sector, what US really needs is the support of the consumers to spend more and boost the economy.
- With Strong dollar importing deflation, US inflation really needs support of the consumers.
