{"id":66821,"date":"2023-07-19T11:19:30","date_gmt":"2023-07-19T08:19:30","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=66821"},"modified":"2024-08-26T12:09:46","modified_gmt":"2024-08-26T09:09:46","slug":"us-core-retail-sales-disappoint","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/ar\/us-core-retail-sales-disappoint\/","title":{"rendered":"US Core Retail sales disappoint."},"content":{"rendered":"

During yesterday\u2019s American session, the US Core Retail Sales rate came in lower than expected, striking down ambitions that the Fed may have been temporarily given some lee-way, should they decide to continue their rate hiking path. The lower than expected rates, is a stark reminder that the high-interest rates imposed by the bank, may be making their way to the surface, thus traders who may have hoped that the greenback would have gained some support following the release, were left disappointed. Furthermore, Canada\u2019s CPI rates were released yesterday, which where indicative of easing inflationary pressures on the economy as the CPI rates came in lower than expected on all accounts, thus market analysts appear to be divided over whether or not the  BoC will hike in their next meeting. In the US Equities markets, we note that Reuters is reporting that Johnson and Johnson (#JNJ) who is due to release their earnings tomorrow,  will have to pay $18.8 million to an individual who claimed he developed cancer, as a result of exposure to the company\u2019s baby power. Furthermore, Ford appears to be taking a page out of Tesla\u2019s playbook, by cutting prices on their electric F-150 lighting pickup by as much as $10,000. In addition, we would like to highlight yesterday\u2019s earnings report by Morgan Stanley (#MS) and Lockheed Martin (#LockheedMT) who both outperformed analysts\u2019 expectations. However, what might be interesting during today\u2019s earnings release is Goldman Sachs (#GS) with many anticipating a horrendous earnings release by the bank, that may not be even near to that of their competitors. For today\u2019s earnings, we would be paying close attention to the earnings releases of IBM (#IBM), Tesla (#TSLA) , Netflix (#NFLX).Lastly, we note that during today\u2019s Asian session BOJ Governor Ueda has once again re-iterated the bank\u2019s commitment to maintaining its ultra-loose monetary policy after stating that “If our assumption (that sustained achievement of 2% inflation remains distant) is unchanged, our overall narrative on monetary policy remains unchanged\u201c. Thus, indicating the banks unwillingness to conduct drastic changes at this point in time.<\/p>\n\n\n\n

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