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Retail sales growth in the United States slowed down in April, with gold rebounding nearly 2%!
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Hello everyone, today XM Forex will bring you "[XM official website]: The growth rate of retail sales in the United States slowed down in April, and gold rebounded nearly 2%!". Hope it will be helpful to you! The original content is as follows:
On May 16, in the early trading of Asian market on Friday, Beijing time, the US dollar index hovered around 100.63. On Thursday, the US dollar index fell and finally closed down 0.22% to 100.79 due to a slowdown in retail sales growth in April and an unexpected decline in PPI monthly rate. The benchmark 10-year U.S. Treasury yield closed at 4.4350%; the two-year U.S. Treasury yield closed at 3.9820%. Spot gold closed up 1.97% to $3,239.21 an ounce on Thursday due to weak U.S. economic data, weak dollar and Putin’s absence of negotiations in Turkey. Spot silver finally closed up 1.30% at $32.62 per ounce. As the market expected the U.S. and Iran to reach a nuclear agreement, WTI crude oil closed down 2.63% to $61.17 per barrel; Brent crude oil closed down 1.89% to $64.53 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered around 100.63. US retail sales increased by 0.1% in April, exceeding expectations of flat growth, but failed to change market sentiment. U.S. retail sales rose 0.1% in April, surpassing expectations of flat growth, but failed to change market sentiment. Federal Reserve Chairman Powell said the Fed's eouu.cnmunication methods are about to change and stressed the need to better deal with future supply shocks. Technically, from a technical point of view, the US dollar index needs to close below the support level of 100.20–100.40 to obtain additional downward momentum.
Gold and crude oil market trend analysis
1)Gold market trend analysis
Trading analysis
On Thursday, gold trading around 3236. U.S. data showed that the producer price index (PPI) unexpectedly fell 0.5% in April, failing to reach the expected 0.2% increase. Core PPI fell 0.4%, lower than the expected 0.3% growth. Meanwhile, retail sales slowed during the same period, up only 0.1% month-on-month, while March figures were raised to 1.7%. Economists had expected these figures to be the same as last month. The number of initial unemployment claims rose to 229,000 in the week ending May 10, which was in line with expectations and the same as the previous week. After the data was released, gold bulls regained the $3,200 mark
2) Analysis of crude oil market trends
On Friday, crude oil trading around 61.09. WTI prices fell slightly as expected by the expectation that the United States (US) and Iran may soon reach an agreement on Tehran's nuclear program. A senior adviser to Iran's supreme leader said Wednesday that Iran is preparing to sign a nuclear deal with U.S. President Donald Trump with certain conditions in exchange for lifting economic sanctions. On Thursday, Trump said the United States is approaching a nuclear deal with Iran, and Tehran has agreed to the terms “to some extent”. The development of possible nuclear agreements could put pressure on WTI prices.
Forex market trading reminder on May 16, 2025
①Hangzhou Index eouu.cnpany announced the results of the series of reviews of the Hang Seng Index
②13:30France ILO unemployment rate in the first quarter
③17:00EurozoneMarch seasonal adjustment trade account
④20:30The total number of new houses started in the United States in April
⑤20:30The total number of construction permits in the United States in April
⑥20:30United States in April
⑥20:30United States in April import prices Index Monthly Rate
⑦22:00 The expected initial value of the US May one-year inflation rate
⑧22:00 The initial value of the University of Michigan Consumer Confidence Index in May
⑨The next day 01:00 The total number of oil drilling rigs in the week from the United States to May 16
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