The market has been laser-focused on inflation for the past year but as prices cool and inflation nears target, the focus will shift to economic strength and for clearer signs of a recession.
One of the best economic indicators for the health of the US economy is retail sales and it will be the focus of next week’s US trading. After a bare calendar on Monday, we get retail sales on Tuesday followed by a series of housing and manufacturing indicators then on Friday the calendar is bare again.
That certainly sets up some summer-type trading but the one highlight is a big one.
Here’s a handy table from CIBC: