US Retail Sales to rise 0.6% in July; 0.5% increase expected

Retail Sales rose 0.6% in July and were revised higher for June and May. Retail sales excluding automobiles, gasoline, building materials and food services rose 0.4 percent in July as reported by the Commerce Department.

Good Retail Sales data is positive factor for the US economy, and as we see - the EUR/USD price was moved to be down by 36 pips for US dollar to become stronger by this news event (as we know if actual is more than expected one so this is good for US dollar - 0.6% actual vs 0.5% expected in our case). But financial markets have already shifted their interest rate hike expectations to December because of China's devaluation. Anyway, the government will publish GDP estimate later this month so many economists expect for the dollar to be as stronger as 1.04/105 at year-end for example.