Interpretation of macro data on July 16: U.S. retail sales monthly rate in June/import price monthly rate!
U.S. retail sales monthly rate in June, previous value 0.3% (0.1 before correction), expected -0.3%, published data 0%,
Through this set of data, it can be seen that under the premise that the probability of interest rate cuts in September has greatly increased due to the current inflation reduction, the U.S. retail industry still shows a relatively stable and strong trend. The data is higher than expected, but lower than the previous value, which is in line with Powell's view that the economy is gradually slowing down. At the same time, the data showed that U.S. retail sales in June hit the largest increase in three months, which is good for the U.S. economy. U.S. stocks rose before the market, and the Russell futures rose by 1%. At the same time, the data did not have any impact on the interest rate cut in September.
The monthly rate of the US import price index in June, the previous value was -0.2% (-0.4% before correction), the expected value was -0.1%, and the published value was 0%
This data directly shows the price changes of imported goods in the United States in June. The United States is a major importer and exporter, and many residents still rely on many imported goods. In the short term, the rise in import prices will still bring some pressure to inflation, but the impact will not be too great at present.
Summary:
Today's data compilation is good for the US economy, bad for the US bond market, and has little impact on the crypto market. Just pay attention.
