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US Retail Sales Beat Expectations | German Economic Sentiment Drops

Published July 16, 2019

• US retail sales exceeded projections in June on broad gains across most categories, pointing to strong consumer spending. Retail sales in June increased by 0.4 percent on a monthly basis and came in better than the market expectation of 0.1 percent. The US Dollar Index was trading higher this morning, at 97.31 levels, after the announcement.
• German ZEW Economic Sentiment dropped to -24.5 in July, missing the expectation of -22, while the sub-index current conditions figure unexpectedly dropped to -1.1 in July versus the expectation of 5.0. The Euro was trading slightly lower this morning, at 1.1213 levels against the greenback.
• Federal Reserve Chairman Jerome Powell is due to make keynote remarks at a conference in Paris at 1:00 p.m. Eastern Time on Tuesday, with investors looking for any further clarification on the extent of his dovishness.
• Top US and Chinese trade negotiators are due to speak by telephone in the coming days, US Treasury Secretary Steven Mnuchin said on Monday. Mnuchin indicated that he and US Trade Representative Robert Lighthizer may travel to Beijing for trade negotiations if talks by phone this week are productive.