U.S. core retail sales rose 0.8% month-over-month in May, beating expectations of 0.6%.

The stronger-than-expected reading points to resilient consumer spending despite elevated interest rates and ongoing economic uncertainty. Since core retail sales exclude volatile categories such as automobiles, they are often viewed as a better gauge of underlying consumer demand.

For markets, the data reinforces the narrative that the U.S. economy remains relatively strong, which could reduce pressure on the Federal Reserve to cut rates in the near term. Stronger consumption can also support inflation, a key factor policymakers continue to monitor.

Crypto and risk assets may see mixed reactions. While robust economic activity is generally positive, stronger data can also increase expectations that the Fed keeps rates higher for longer, potentially limiting liquidity-driven upside in Bitcoin and other cryptocurrencies.

The report follows growing market expectations that the Fed could maintain a hawkish stance, with recent surveys and prediction markets showing rising odds of another rate hike over the next 12 months.

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