U.S. Retail Sales Drop 0.6% in July, Ending Nine-Month Growth Streak

July retail sales fell 0.6%, breaking a nine-month growth run. Institutions cut Q3 GDP forecasts, impacting Fed rate cut expectations and pressuring risk assets.

Woofun AI reports that U.S. retail sales declined by 0.6% month-on-month in July, terminating a nine-month consecutive growth trend. Following the data release, several institutions reduced their third-quarter U.S. GDP growth forecasts, altering investor assessments of the Federal Reserve's rate cut timeline. Weaker macroeconomic sentiment may exert short-term pressure on risk assets such as cryptocurrencies.