Commodities Analysis by Investing.com (Barani Krishnan) covering: XAU/USD, US Dollar Index Futures, Gold Futures, SPDR® Gold Shares. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
annual growth of 3.2% in July — a tad lower than the forecast 3.3% and a little higher than June’s 3.0% — barely dented the rebound of the dollar from 15-month lows.
Retail sales grew by 0.7% in July versus a 0.3% expansion in June, the Commerce Department reported. Economists on Wall Street had expected a growth of just 0.4% last month. The Fed’s next decision on rates is on Sept. 20. Following the retail sales data for July, the expectation among money market traders for a rate hike of another 0.25% next month stood at 12% from a previous forecast of below 10%. The central bank has said it will process a lot more data over the next six weeks before September’s decision day on rates.
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