Gold Retraces Gains as US Retail Sales Beat Forecasts, Rate Cut Outlook Shifts
Gold (XAU/USD) prices dipped on Tuesday, retracing earlier gains, after US Retail Sales data for June exceeded expectations. This suggests a resilient US economy and potential for persistent inflation, which could moderate the Federal Reserve’s (Fed) inclination towards aggressive interest rate cuts. Retail Sales Data Tempers Rate Cut Optimism The unexpected uptick in retail sales, […]
EUR/USD Retreats from 1.0900 as Traders Await ECB Rate Decision
The EUR/USD pair pulled back sharply after briefly touching a 16-week high above 1.0900 on Monday, as traders reassessed their positions ahead of Thursday’s European Central Bank (ECB) rate decision. The pair’s retreat coincided with cautious commentary from Federal Reserve (Fed) officials, who reiterated a data-dependent approach to potential rate cuts. Market Drivers and Outlook […]
