FXStreet (Delhi) – Research Team at ANZ, notes that in the US, the December control group retail sales fell 0.3% (mkt: +0.3% m/m), with November control sales also revised lower. Key Quotes “These data suggest that the pace of Q4 household consumption growth has slowed markedly from Q2 and Q3. The 0.2% drop in the PPI and plunge in the Empire state manufacturing index were also notable. The Atlanta Fed’s GDPNow estimate for Q4 GDP growth is tracking at just 0.6% annualised. Industrial production fell 0.4% m/m in December (mkt: -0.2% m/m) with November's result revised down to -0.9% m/m. Capacity utilisation fell 0.4ppts to 76.5%. Manufacturing activity declined 0.1% m/m, dragged lower by a 1.7% drop in motor vehicle production, with the stronger USD a headwind to exporters. New York Fed Governor (and FOMC Vice Chair) Dudley: Despite concerns about disinflation, Dudley said he expects the US economy to grow slightly above 2% in 2016 with a bit more tightening in the labour market. Still, he said “as long as the economy continues to grow at an above-trend pace, I expect the increase in resource utilisation will be sufficient to push both inflation and inflation expectations higher over time”. San Francisco Fed President John Williams downplayed the effect of recent stock market declines. He noted that “short-term volatility is not something that worries me for monetary policy; it reflects market participants trying to make sense of global developments”.” For more information, read our latest forex news.