U.S. retail sales (monthly rate) in July fell short of expectations: -0.6% vs 0.1%

U.S. July retail sales fell 0.6% MoM, missing the 0.1% forecast. The weak consumer data bolsters rate cut expectations and increases the likelihood of monetary easing.

The actual monthly rate of retail sales in the U.S. for July was -0.6%, lower than the expected 0.1% and the previous value of 0.2%. This significant deviation from expectations indicates weakening consumer momentum, which could strengthen market expectations for a rate cut and increase the likelihood of monetary easing.