The U.S. May retail sales month-over-month data will be released tonight. If it comes in weaker than expected, it may strengthen bets on a Federal Reserve rate cut.

BlockBeats News, June 17 - The U.S. May Retail Sales Month-on-Month Rate is set to be released tonight at 8:30 PM EST. The previous reading was 0.1%, with expectations at -0.7%. Kudotrade's Customer Relationship Manager Konstantinos Chrysikos believes that if the decline in U.S. retail sales data exceeds expectations, it could strengthen bets on a Federal Reserve rate cut. Current data indicates that market participants anticipate two rate cuts by the Fed this year. A survey from The Wall Street Journal suggests that U.S. May retail sales are expected to decrease by 0.6% month-on-month, compared to the previous figure of a 0.1% increase. (Jin10)