Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Oct 14 - 09:55 AM

USD: September Retail Sales Is A Mixed Report; Fed Still Likely To Hike 75bps Next Month - CIBC

By eFXdata  —  Oct 14 - 09:00 AM

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

"Retail sales flat lined in the US in September, below consensus expectations for a 0.2% advance. This was partly offset by a positive revision to the prior month (now 0.4%, previously 0.3%). Despite gains in new unit sales, autos acted as a drag in September, and combined with the decline in sales of gasoline offset gains in other areas. The control group of sales (ex. gasoline, autos, restaurants, and building materials) grew a strong 0.4% on the month, above expectations for a 0.3% gain, which was compounded by a positive revision for August (now 0.2%, previously 0.0%)," CIBC notes. 

"While this report is mixed, the Fed will put much more weight on yesterday’s CPI release when deciding on the rate path. As a result, the Fed is now likely to raise rates by 75 bps in November and could be on its way to a higher terminal point than previously thought," CIBC adds. 

CIBC Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved