#OPINIONLEADER#

ByJin Dao Tai

 MAY 17, 2021

Last Friday, USD weakened against all major currencies.

The Retail Sales m/m data released last Friday indicated no change in consumer spending in April. Omitting automobiles, consumer spending declined.

• Core Retail Sales m/m (Actual: 0.0%, Forecast: 0.5%, Previous: 10.7% revised from 8.4%)
• Retail Sales m/m (Actual: -0.8%, Forecast: 1.0%, Previous: 9.0 revised from 9.8%)

The Preliminary UoM Consumer Sentiment data (Actual: 82.8, Forecast: 90.2, Previous: 88.3 revised from 86.5) released last Friday indicated a decline in the surveyed respondents’ view on the current and future economic conditions.

Several FOMC committee members will be speaking later from 2205 (SGT) onwards. During this time, there may be volatility in USD.