Resilient US sales fuel inflation expectations and Fed hawks. FOMC minutes in focus. | MarketTalk: What’s up today? | Sw

Show notes

The Americans continue spending, US retail sales grew 0.7% on a monthly basis and more than 3% on a yearly basis - the biggest figure since January. The resilience of the US consumer spending sapped investor sentiment by fueling inflation expectations and Federal Reserve (Fed) hawks. Yields rose, stocks fell and USD gained.
In Europe, Cable bulls resist to the bears around the 1.27, on record wages growth and sticky inflation while Europeans watch GDP and industrial production data to assess the slowdown in economy.
Far away, the Reserve Bank of New Zealand (RBNZ) held its cash rate unchanged for the 2nd consecutive month but warned that there is a risk that activity and inflation measures do not slow as much as expected, and due today, the FOMC minutes will likely show that the Fed officials remain cautious despite the latest fall in inflation numbers.
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