According to Odaily Planet Daily, Monex Europe said that if US retail sales data prompts the market to reduce expectations of overly aggressive interest rate cuts by the Federal Reserve, the dollar may rise. Monex analysts said that data released later may show a modest increase in consumer activity in July, reinforcing the message that the US economy is still expanding.
Monex expects the Fed to cut interest rates by 25 basis points in September, November and December, slightly less than the market currently expects.
