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May 15 - 11:00 AM
USD: Solid US Retail Sales Report But Unlikely To Move Markets Much Today - CIBC
First appeared on eFXplus on May 15 - 08:46 AM

CIBC Research discusses the reaction to today's US retail sales report for the month of April.

"US retail sales made a solid but unspectacular start to Q2. The 0.3% gain in headline sales was in line with consensus expectations, although a two-tick upward revision to the prior month (now +0.8%) added a somewhat positive tone....

Overall, these are solid figures, particularly given the upward revision to March, which supports our forecast that consumer spending is accelerating again in Q2 after a sluggish first quarter. However, the numbers are unlikely to move markets much today," CIBC argues. 

Source:
CIBC Research/Market Commentary

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