More that three fourths of economic activity in the US is made up of consumer spending of which a third relates to retail sales. In simple terms, the retail sales report is an indicator of changes in consumer spending patterns. How do you interpret the retail sales report for your forex trading purpose? It is indeed difficult as it could be interpreted in two ways. All you need to remember is that a strong retail sales number is usually bullish for the dollar. But here’s a catch. If for the same period imports into the country were also high then it could have just the opposite effect on the dollar and it could become bearish in outlook. As you trade the forex you will gradually latch on to the nuances of the Retail Sales report.
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