USD is down near a two-week low ahead of US retail sales

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USD fell on the European market on Monday against a basket of global currencies, resuming losses that were temporarily suspended in the previous market, approaching the touch of the lowest level in two weeks, this comes amid the reluctance of investors risk and the desire to buy low-yielding currencies, Today announced important data from the US on monthly retail sales, which provide strong evidence about the pace of growth during the third quarter of this year.

USD index fell more than 0.3% to 11: 45 GMT, trading at 94.70 points, the opening level of 94.99 points, the highest at 95.04 and the lowest at 94.63.

The index ended Friday’s trading up 0.3%, its first gain in four days, recovering from a two-week low of 94.62 points.


Over the past week, the index lost 0.4%, the first weekly loss in the past three weeks, as the world’s strongest currency rallied against a basket of currencies.

The sell-off accelerated after 10-year US bond yields fell from a 7-year high and 30-year bond yields fell from their highest level in four years as risk appetite eased.

In addition to the president’s continuing criticism of the Federal Reserve policy and raising interest rates, Trump said he did not like what the Federal Reserve was doing and that the inflation target was already in place, so he did not think it was necessary to be quick to raise interest rates.

Investors are looking ahead to a number of US economic data today, perhaps the most important data on monthly retail sales, which is one of the most important indicators of consumer spending, which represents more than 70% of the value of GDP.

Retail sales, expected to rise 0.7% in September from a rise of 0.1% in August, are expected to release by 12:30 GMT. Retail sales excluding auto sales are expected to rise by 0.4% from a 0.3% rise in the previous reading .

 

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