US Retail Sales

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Following Wednesday’s higher-than-expected CPI data in the US, markets were considering the possibility of a full percentage point increase at the July Fed meeting. Some non-voting Fed members already expressed their view on this. Atlanta Fed President Bostic stated that “everything is in play”, while San Francisco Fed President Daly said a 100 basis point hike is “possible” but 75 basis point is more likely. On the other hand, some voting members, like Governor Waller and St. Louis Fed President Bullard said they support a 75 basis point increase at their next meeting. In particular, Waller said he is open to a larger hike depending on incoming data, such as today’s retail sales.

The Fed’s Beige Book was also released on Wednesday. It reported modest economic growth since the last report, with several districts noting a slowdown in demand and five districts voicing their concern over the increased possibility of a recession. The economic outlook for the future was mostly negative. 

US retail sales in June 2022 was 1.0% month-over-month, from -0.1% in May and surpassing the  market forecasts of 0.8%. Year-over year retail sales was 8.4% in June 2022, following an upwardly revised 8.2% the prior month. Core retail sales, which excludes automobiles, rose 1.0%.  All eyes are now on the Fed’s upcoming monetary policy meeting. 

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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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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.