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Investing.com – A number of important data has now been released, as the US retail sales data is expected to cause some volatility in the markets over the next few moments.
Moments after the release of the data, gold consolidated its gains, while the dollar fluctuated up and down and did not settle on a destination yet.
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Retail sales data
It recorded 0.2% less than the expectations of experts, who expected a rise of 0.3%, while the previous reading was 0.3%.
As for it, it recorded a decrease from the previous month and increased by 1.49%, and the last recorded rate was 1.96%, and expectations indicated an increase of 1.6%.
At the same time, it recorded an increase of 0.2%, contrary to experts’ expectations for an increase of 0.5%, as it recorded a previous reading of 0.5%.
This indicator determines the value of sales at the retail level. Currency traders keep a close eye on the retail sales report, as it is one of the first indicators of consumer behavior published in the month, so the market is sensitive to any surprises from this report. The upward trend has a positive effect on the country’s currency, as retail sales make up a large part of consumption, which is the main driver of the economy and also has a significant impact on GDP.
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Gold and the dollar now
It rose 0.7% to $1,970.
It rose by 0.55%, at $1,965 an ounce.
While it settles at 99.55 points.
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2023-07-18 12:34:00
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