Chicago Fed: US retail sales ex-autos rose 0.7% in June

Chicago Fed data shows retail and food services sales excluding autos climbed 0.7% MoM in June, marking the fifth consecutive +0.7% increase. Real (inflation-adjusted) sales surged 1.4%—the largest monthly jump in two years—signaling strong US consumer momentum. This inflation-cooled backdrop reinforces the Fed's July rate-decision narrative; USD positioning remains crowded ahead of Tuesday's CPI print.