Estimates suggest a 0.7% m/m decline in retail sales for August
The drop on the month will owe much to a plunge in auto sales, so look towards that for any „spin“ on the report later today if the market is to go with the narrative that the economy is still holding up ahead of next

A look at what is on the board for today
Just a couple to take note of on the day, as highlighted in .
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That said, they aren’t anything too significant but we’ll see how price action responds to the US retail sales data later today.

German conservatives trail further in the latest Kantar poll
Support for the SPD is seen at 26% (+1) while the conservatives i.e. CDU/CSU is seen at 20% (-1) in the latest poll by Kantar for Focus magazine.

Goldman Sachs‘ take on the BOE
Adding that they see the central bank hiking rates to 1% by Q4 2023, which makes the whole ordeal more of a gradual tightening.

Forex news from the European trading session – 15 September 2021
Headlines:
Markets:
– JPY leads, AUD and NZD lag on the day
– European equities mostly lower; S&P 500 futures up 0.1%

Goldman Sachs weighs in on the latest surge in energy prices
The firm says that they see risk of power blackouts for industries in Europe and that with a „harsh winter“ nearing, there are risks of a greater surge in electricity and gas and that prices need to rise in order to reduce demand.

Another twist to the political merry-go-round in the UK
No10 source confirms reshuffle is on
‚The PM will today conduct a reshuffle to put in place a strong and united team to Build Back Better from the pandemic‘
There has been rumours floating about on this for a few days now and it will begin after PMQs have

Latest data from the Mortgage Bankers Association for the week ending 10 September 2021
–  -1.9%
– Market index 707.9 vs 705.6 prior
– Purchase index 277.9 vs 258.4 prior
The jump in mortgage applications in the past week owes much to a surge in purchasing activity as refinancing activity declined heavily. There’s still some mixed sentiment on the

Oil up another 1.5% today to $71.55
here
The push towards $71.55 now looks to be a clean running one that could extend back towards the 30 July high near $74 as buyers keep in control for now.

A look at what is on the board for today
A couple of big ones to take note of, as highlighted in .
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In particular, the ones for EUR/USD (1.1835), USD/CAD, and AUD/USD may act as magnets for price action before rolling off later in the day but if anything else, they could largely just act as