The latest US economic metrics had a positive impact on the markets

The latest US economic metrics had a positive impact on the markets

Wall Street was mixed on surprise retail sales bump

The retail sales figures and the Philadelphia Fed manufacturing index published yesterday surprised the market in a positive manner. In the case of retail sales, some economists had already pointed out the recovery of car sales.

However, the data was much better than expected, with August retail sales rising 0.7% against a forecast decline of -0.8%. At the same time, the Philadelphia Fed index shot higher to 30.7, well above the 17.7 forecasted.

This promising data contrasts with the general market sentiment of the previous day when it moved in the risk-off mode. The event was caused by fear of a global slowdown of the economy after the weak data of industrial production and retail sales in China.

Therefore, the market sentiment seems to be changing from one day to the next. Dominated by uncertainty and, above all, very dependent on the published economic figures, both the leading indicators and the employment data without forgetting those of inflation. The markets moved along this same line, like a real roller coaster with abrupt changes in both directions.

With these very optimistic indicators, the US Treasury bond yields moved upwards quickly, reaching the levels they had before the inflation figure was published. Tnote reached 1.35%, and for this reason, the North American stock indices moved abruptly to the downside before recovering all or almost all the lost ground as the end of the session approached.

USA30 lost almost 1% after the publishing of the retail sales figures and ended the day down 0.30%. Indeed, the closes are increasingly moving further away from the 34.750 resistance zone. The movement is still lateral with a slight downward bias but with a buying interest in corrections. Everything will depend on what the Federal Reserve reveals in the meeting that it will hold next week.

Elsewhere in the currency market, traders went into a dollar-buying frenzy. With a strong dollar and treasury yields rising, gold slumped, experiencing the most significant drop in recent weeks.GráficoDescripción generada automáticamente

Following this fall, Gold moved away from the trading range of $1780/ounce and $1790/ounce, dropping around $40 and approaching the first support zone of $1730/ounce. Its future evolution will most likely depend exclusively on the US dollar and/or the yields of US Treasury bonds.Interfaz de usuario gráfica, GráficoDescripción generada automáticamente

Sources: Bloomberg.com, reuters.com

Informațiile prezentate în acest document sunt pregătite de Miguel A. Rodriguez și nu au intenția de a constitui consultanță pentru investiții. Informațiile din acest document sunt furnizate drept o comunicare generală de marketing cu scop informativ și, ca atare, nu au fost pregătite în conformitate cu cerințele legale concepute pentru a promova cercetările independente în domeniul investițiilor și nu sunt supuse niciunei interdicții de abordare înainte de diseminarea cercetărilor de investiții. Nu au în vedere obiective specifice de investiții, situații financiare sau nevoi specifice ale vreunui destinatar.

Utilizatorii/cititorii nu ar trebui să se bazeze exclusiv pe informațiile prezentate aici și ar trebui să facă propriile lor cercetări/analize, prin citirea cercetărilor de bază.

Key Way Investments Ltd nu influențează și nici nu are vreo contribuție la formularea informațiilor conținute de acest document. Conținutul acestui document este generic și nu ia în considerare circumstanțele personale ale fiecărui individ, experiența de investiții sau situația financiară actuală.

Prin urmare, Key Way Investments Ltd nu va accepta nicio responsabilitate pentru eventualele pierderi ale traderilor datorate utilizării sau conținutului informațiilor prezentate în acest document. Performanța din trecut nu este un indicator viabil pentru rezultate viitoare.