Data shows that U.S. retail sales in April increased by 0% month-on-month, lower than market expectations of 0.4%. The previous value was revised from 0.7% to 0.6%.
U.S. retail sales stagnated in April. Growth in the previous two months was revised downwards, indicating that high borrowing costs and rising debt have prompted consumers to be more cautious.
On Wednesday, May 15th, the U.S. Department of Commerce released retail sales data for April.
Data show that U.S. retail sales in April increased by 0% month-on-month, lower than market expectations of 0.4%. The previous value was revised from 0.7% to 0.6%.
Excluding cars and gasoline, retail sales fell 0.1%.
The media quoted analyst Chris Anstey as saying that U.S. retail sales data looks slightly lower than expected.
The control group data as GDP actually fell. It fell by 0.3%.
At the same time, data released by the U.S. Bureau of Labor Statistics showed that the U.S. CPI increased by 3.4% year-on-year in April, which was the same as expected. It was slightly lower than the previous value of 3.5%; the CPI in April increased by 0.3% month-on-month, which was lower than expected and the previous value of 0.4%.
After the data was released, the three major U.S. stock index futures rose in the short term. Nasdaq futures rose 0.56%. S&P 500 futures rose 0.54%. Dow futures rose 0.49%; U.S. Treasury bond yields continued to fall. 2-year to 10-year Treasury bond yields The daily declines exceeded 10bp.
The U.S. dollar index fell short-term. It is now down 0.47%.
The yen extended gains against the dollar, rising 1.1%.
GBP/USD rose 0.6% to 1.2666, the highest level since April 10.
Analyst Joseph Richter said that the market\’s subconscious rebound may be more due to a significant slowdown in U.S. retail sales rather than a CPI that is close to expectations.
For several months, sales data has tended to lead commodity CPI.
Traders are now raising expectations for a rate cut from the Federal Reserve.
Interest rate swaps show traders believe there is more than an 80% chance of a 25 basis point interest rate cut by the September Fed meeting.
U.S. retail sales remained flat in April, with growth significantly lower than expected
Data show that U.S. retail sales in April increased by 0% month-on-month, lower than market expectations of 0.4%. The previous value was revised from 0.7% to 0.6%.
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