US: Retail sales likely to rise by 0.4% in June – TDS

Analysts at TD Securities suggest that the US retail sales for June will provide the data highlight for the week before the focus shifts to Chair Powell's congressional testimony.

Key Quotes

“TD looks for a 0.4% rise in both headline sales and the control group, as core sales moderate after a long string of strong increases. This should still leave Q2 real consumer spending tracking near 2.5% pace.”

“Empire manufacturing will round out the calendar with the first look at regional business conditions for July.”