According to Jinshi Data, Konstantinos Chrysikos, head of customer relationship management at Kudotrade, believes that a larger-than-expected drop in U.S. retail sales data could strengthen bets on a Fed rate cut. Market participants expect the Fed to cut rates twice this year. (Wall Street Journal) The survey shows that U.S. retail sales are expected to fall 0.6% month-on-month in May, compared with a 0.1% increase in the previous data.