US data focus for Tuesday - May retail sales - the range of expectations to watch ...Middle East

On Tuesday at 1230 GMT, which is 0830 US Eastern time we get retail sales for May 2024.Consensus expectations are in the table below. This snapshot is from the ForexLive economic data calendar, access it here.As for the ranges. For Retail sales m/m:-0.1% to +0.5%For Retail sales excl autos m/m:-0.1% to +0.6%While I'm at it, Industrial production will also be a focus. The ranges of estimates for the m/m:0.0% to 0.6%***Why is knowledge of such ranges important?Data results that fall outside of market low and high expectations tend to move markets more significantly for several reasons:Surprise Factor: Markets often price in expectations based on forecasts and previous trends. When data signifi

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