Highlights
US retail sales is the main scheduled event on Friday. The Econoday consensus looks for sales up only 0.1 percent on the month in July and 0.2 percent excluding autos. Given that these are nominal numbers that do not account for price increases, the gains are modest.
At 10 am ET, we get the first reading on US consumer sentiment for August from the University of Michigan survey. Expectations call for sentiment down a bit to 54.2 from 55.2 in the final July report. One-year inflation expectations are expected unchanged at 4.2 percent, a nasty number given the 2 percent Federal Reserve inflation target.
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