Equity markets in Europe are declining and US index futures are also trading below yesterday's close. Investors look towards the most important macro release of the day - US retail sales data for December at 1:30 pm GMT - as a possible trigger for more volatility. Headline retail sales are expected to remain flat year-over-year while a gauge excluding autos is seen declining 0.1% MoM. Simultaneously to the retail sales data, PPI and NY Empire prints will be released but these will be most likely ignored by the markets.
US500 bounced off the upward trendline overnight. However, index is struggling to climb back above the zone at 3,775 pts. Will US retail sales data serve as a trigger for a bigger move? Source: xStation5
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