MACRO: Jobless claims, retail sale rates in. Sucess or inflation?

• Thursday, the BLS released weekly initial jobless numbers. They came in at 220k, 5k lower than expected.

• Last week, the initial jobless was revised to 1,000 to 217k.

In the week ending September 9, the advance figure for seasonally adjusted initial claims was 220,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 216,000 to 217,000. The 4-week moving average was 224,500, a decrease of 5,000 from the previous week's revised average.

The previous week's average was revised up by 250 from 229,250 to 229,500.Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies weekly. A higher-than-expected reading should be considered negative/bearish for the USD, while a lower-than-expected reading should be taken as positive/bullish for the USD.

• Thursday, the Census Bureau posted Retail sales for August

• Year over year, Actual sales grew, 2.47% vs 2.64% in July
Retail Sales measure the change in the total sales value at the retail level. It is the foremost indicator of consumer spending, accounting for most of overall economic activity. A higher-than-expected reading should be taken as positive/bullish for the USD, while a lower-than-expected reading should be taken as negative/bearish for the USD.

Q:

• After the ECB came out with higher rates, do you think this job activity and retail sale trends toward Powel raising US rates?