According to reports from Jinshi Data, Kudotrade's customer relationship management director Konstantinos Chrysikos believes that if the decline in U.S. retail sales data is greater than expected, it may strengthen bets on the Federal Reserve cutting interest rates. Market participants expect the Federal Reserve to make two rate cuts this year. (The Wall Street Journal) The survey shows that U.S. retail sales are expected to decrease by 0.6% month-on-month in May, compared to a previous increase of 0.1%.