Retail sales fell sharply this week. The ICSC reported a -1% weekly decline which likely represents the end of back-to-school. The Redbook continues to trend in weak territory and came in at -2.6% this week. This doesn’t bode well for September retail sales.
The dollar is getting crushed again today. So much for an orderly decline in the dollar. More importantly, at what point do investors begin to seriously worry about the decline in the dollar? Or even worse, what if we get a snap back rally?