US: Retail sales likely to gain 0.4% in July - RBC CM

Adam Cole, Research Analyst at RBC Capital Markets, suggests that the US July retail sales is the key economic release today of the US session.

Key Quotes

“Headline and ex autos retail sales should be weighed down by declining gasoline prices in July, with 0.4% m/m and 0.1% m/m gains expected, respectively (RBC and consensus). “Control” remains supported by firming wage trends and our economists anticipate a 0.3% m/m gain for that category.”