According to FX Street, strategists from the Royal Bank of Canada (RBC) have noted that US consumers have shown resilience throughout 2026 despite ongoing inflationary pressures. However, they caution that earlier shocks in energy prices have diminished consumers' capacity to handle additional cost increases.
The report emphasizes that while spending has remained steady, the cumulative effect of persistent inflation and energy market disruptions is eroding disposable income and purchasing power. This dynamic suggests a more cautious outlook for further consumer-driven growth.
For Japanese investors, understanding the US consumer's endurance is crucial as it impacts global demand and risk sentiment, which in turn influences FX and equity markets relevant to Japan's export-driven economy.