US retail sales report due Wednesday, here are two analysts looking for a topside blow out

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US retail sales report due Wednesday, here are two analysts looking for a topside blow out

<p>The data is due at 1330 GMT, which is 8.30am US Eastern time. </p><p>Note the consensus expected for Retail Sales Control Group is 0.3% and for Retail Sales headline is +1.8%. Bank of America is a huge retail bank in the US and they have much higher expectations, a whopping +2.6% and +3.0% respectively. BoA are basing their outlying estimates on their in-house proprietary credit card spending data during January. </p><p>Scotiabank is also above consensus, looking for a headline +2.2%:</p><ul><li>the US consumer's fundamentals remain sound. Job markets are very tight, wage gains are decent, the debt-to-income ratio is at a twenty-two year low, debt payments as a share of incomes are toward record lows, cash balances are very high after socking away pandemic stimulus and Americans have a one-way option to refi in a falling rate environment that locked in pandemic lows for 30-year mortgages. </li></ul><p class="western" align="left">
This
snapshot from the ForexLive economic data calendar, <a href="https://www.forexlive.com/EconomicCalendar">access
it here</a>.</p><p class="western" align="left">
The
times in the left-most column are GMT. </p><p class="western" align="left">
The
numbers in the right-most column are the 'prior' (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median
expected.</p>

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: US retail sales report due Wednesday, here are two analysts looking for a topside blow out

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