U.S. retail sales data for May is set to be released tomorrow. According to a TD Economics research report, the retail sales are likely to have grown 0.5 percent, propped up by increased gasoline prices and a strong rise of 0.3 percent in the core group.
Additional favourable weather implies a boost from building materials and food services categories as well. This is expected to leave the second quarter real consumer spending tracking near a strong 3 percent rate given the strong performance in April, stated TD Economics.
At 14:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was bullish at 81.8271. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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