According to the latest report from Golden Ten Data, Konstantinos Chrysikos, head of customer relationship management at Kudotrade, said that if the U.S. retail sales data falls more than market expectations, it may strengthen market expectations for the Federal Reserve to cut interest rates. The Fed is widely expected to cut interest rates twice this year. According to the Wall Street Journal, analysts forecast that U.S. retail sales could fall by 0.6% month-on-month in May, which is in stark contrast to the 0.1% growth in the previous period. As an important indicator of consumer spending, the trend of retail sales data will become one of the key reference factors for the Fed to formulate monetary policy.