On Friday we will get retail sales data out of the US for the month of August. Consumer spending is the backbone of the economy and makes up over 70% of all economic activity. Given the extreme and prolonged weakness in the labor market I expect core retail sales to be flat for August and that back-to-school shopping disappointed.
The only reason we may see a positive print on retail sales will be gasoline prices which have marched higher throughout the summer and will do so for the of the year, not due to economic expansion and demand but rather due to any fallout from Syria and other issues on the supply side.
I also expect the USD to get hammered across the board.