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The period of high volatility in the markets continues, with traders increasingly concerned about the economic slowdown. The data on US consumer sentiment released on Friday only fueled this concern. The University of Michigan consumer sentiment index (preliminary) fell to 59.1 in May 2022, from 65.2 in April and below the forecast of 64.

Inflation is becoming an increasingly serious issue and the Fed is tightening its monetary policy. Although inflation in the US slowed to 8.3% in April, energy and food prices remained high, exacerbated by the Russia-Ukraine war.

Today a major macroeconomic data to keep an eye on is US retail sales, which are useful in understanding the health of US consumers. According to the US Census Bureau, April retail sales data was 0.9% month-over-month, from an upwardly revised 1.4% in March and in line with the market forecast. Year-over-year sales was 8.2%, following an upwardly revised 7.3% in March. Core retail sales, which excludes automobiles, was 0.6%, slightly stronger than the forecast of 0.4%. Food services and drinking places rose to 19.8% from April 2021, while gasoline stations were up 36.9%. Amid growing inflation and solid retail sales figures, the Fed is expected to maintain its plan to raise interest rates in the following meetings.

This communication is for informational purposes only. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. All market prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any comments or statements made herein do not necessarily reflect those of Aleph Finance, or its affiliates.

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We draw your attention to the “Legal Documents” pages of our web site. This can be found at the top of each page. This section contains important information about the terms under which you use this web site, risk warnings and other important information. Please access and read this Important Information section.
Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

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We draw your attention to the “Legal Documents” pages of our web site. This can be found at the top of each page. This section contains important information about the terms under which you use this web site, risk warnings and other important information. Please access and read this Important Information section.
Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is authorized and regulated by the FCA – Financial Conduct Authority – with registration number 477155.
Pairstech Capital Management LLP is authorized as third country firm without a branch by CONSOB with registration number 54.
Registered Company number OC333807.

For further information, please read our Legal Documents.