US Economic Data: Retail Sales, Philly Fed & Jobless Claims
US economic data show say June retail sales carry better pass wetin dem expect (+0.6% vs +0.1% wey dem expect) plus 0.5% rise if you no include motor. Philadelphia Fed survey show say CAPEX, employment and new orders indices take blow, prices wey dem pay naik reach 58.8. Initial jobless claims fall unexpectedly while continuing claims stop their recent rise. Investors dey also watch Netflix earnings wey dem expect to be $7.07 per share, and dem dey talk about Federal Reserve independence. Traders talk say the strong US economic data fit make Fed tighten policy, reduce liquidity and put pressure on risk assets like crypto.
Bearish
Strong US economic data dey usually tok say Fed fit raise rates or reduce asset purchases, wey fit make liquidity comot from risk markets. Strong retail sales, rising Philly Fed indices plus falling jobless claims mean say economy dey solid, wey go reduce demand for high-yield assets like crypto for near term. Combine with expectation say monetary policy go tighten, traders fit begin move comot from volatile tokens, wey fit cause short-term bearish pressure. For long term, policy clarity fit make market stable but immediate outlook still dey cautious.