US June retail sales data expected to rise – is anyone even aware that the Fed is hiking?

<p>US June 2023 retail sales data is due on 18 July 2023:</p><ul><li>
This
snapshot from the ForexLive economic data calendar, <a href="https://www.forexlive.com/EconomicCalendar">access
it here</a>.</li><li>
The
times in the left-most column are GMT. The data is due at 0830 US Eastern time.</li><li>
The
numbers in the right-most column are the 'prior' (previous
month/quarter as the case may be) result. The number in the column
next to that is the consensus median
expected.</li></ul><p>The headline to my post is poking a bit of fun at the continued rise. Eyes are on the data, a miss will be construed as Federal Reserve rate hikes biting and diminishing demand and the probability of more hikes ahead, While a beat will the flipside and would give stocks a dip while the prospect of more hikes to come sinks in. Recent FOMC communication indicates there are still two hikes to come, though plenty of folks doubt that. </p><p>Via Scotia:</p><ul><li>A 4.2% m/m SA rise in vehicle sales during June should contribute around a half percentage point to retail sales growth on its own, while price effects are expected to be minor and the key will be sales ex-autos and gasoline that have been beating consensus estimates every month this year</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.