The U.S. Department of Commerce released retail sales figures for April. Data show that U.S. retail sales rose 0% month-on-month in April, below market expectations of 0%.Onlinevirtualstrippoker.4%, the previous value is 0Onlinevirtualstrippoker.7% revised to 0.6%. Most of the month's expenditure was spent on necessities such as food and gasoline. Specifically, retail sales excluding cars increased by 0.2% month-on-month, expected 0.2%, the previous value revised from 1.1% to 0.9%; retail sales except cars and gasoline decreased 0.1% month-on-month, expected 0.2%, the previous value of 1%; core retail sales (excluding cars, gasoline, construction materials and food services) fell 0.3% month-on-month, expected 0.1%, previous value 1%. Sales fell in 7 of the 13 categories, with non-store retailers and sporting goods and hobbies falling the most. Higher gasoline prices led to a 3.1% increase in gas station revenue, while car sales fell. The sales figures suggest that consumer demand, which has underpinned the economy, is weakening. Although the labor market remains strong, providing consumers withOnlinevirtualstrippokerThere is enough spending power, but high prices and interest rates may further squeeze household finances and limit non-essential purchases.
Separately, Francois Villeroy de Galhau, a member of the ECB's governing board and president of the Bank of France, said the ECB was likely to start cutting interest rates at its policy meeting in June. Barring surprises, the ECB remains committed to its target of reducing inflation from the current 2.4 per cent to 2 per cent next year, he said in an interview on Wednesday. He said: "becauseOnlinevirtualstrippokerWe are confident enough that we are likely to start cutting interest rates at the policy meeting in early June. " Although there is a good chance that the ECB will cut interest rates for the first time in June, some of the more hawkish ECB policymakers have urged more caution in cutting interest rates. This view is supported by rising wages in the eurozone and uncertainty in the energy market caused by tensions in the Middle East. In addition, strong economic growth in the eurozone may also make policy easing less urgent. Francois Villeroy de Galhau said the eurozone economy should recover further in 2025 as lower borrowing costs boost investment and lower inflation supports consumer spending. "We expect the economy to recover further next year with the help of falling inflation," he said. "
The data that need to be watched today are the initial monthly rate of construction permits in the United States in April, the annualized monthly rate of new housing starts in April, the monthly import price index in April, the number of Americans applying for unemployment benefits in the week ended May 11, the Philadelphia Federal Reserve Manufacturing Index in May and the monthly rate of industrial production in the United States in April.
Dollar index
The dollar index fluctuated downwards yesterday to refresh its five-week low and is now trading around 104.10. Apart from the fact that the technical selling order formed near the 105.00 gate has exerted some pressure on the exchange rate, the main reason for the decline in the exchange rate is that the retail sales data released in the United States during the period of time are significantly lower than market expectations. However, the performance of the CPI data released during the period was in line with market expectations, limiting the scope for the exchange rate to fall. Today, we will focus on the pressure situation near 104.50, with the lower support around 103.50.
EUR / USD
The euro swung upwards yesterday to refresh eight-day highs and is now trading around 1.0890. Apart from the fact that the weakness of the dollar index under the suppression of weak retail sales data is the main reason for supporting the rise of the euro, the GDP data released by the euro zone during the period of time are in line with market expectations and provide some support for the euro. However, the ECB's expectation of a rate cut in June limited the upside for going home. Today, we will focus on the pressure situation near 1.1000, with the lower support around 1.0800.
Sterling / dollar
The pound shook up yesterday to refresh its five-week high and is now trading around 1.2690. In addition to the US dollar index's retreat to the 104.00 mark under the suppression of weak retail sales data, the exchange rate has also formed a certain support to the exchange rate after breaking through the pressure of 1.2600. However, the Bank of England's expectations of interest rate cuts limit the room for exchange rate increases. Today, we will focus on the pressure situation near 1.2800, with the lower support around 1.2600.
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