Gold (XAU/USD) Surges Beyond $3200/oz on Weak US Data, DXY Slips

U.S. retail and food services sales rose 0.4% month-on-month (m/m) in December, down from the upwardly revised 0.8% increase seen in November (previously 0.7%), and slightly below the consensus forecast calling for a 0.6% gain. A drop in food services sales weighed on the headline (-0.3% m/m). On a year-over-year basis, growth decelerated rapidly last […]

Recent decline has almost reached the upward-sloping 50-day moving average. Short-term RSI momentum indicator has suggested downside momentum has eased. Potential short-term bounce above 16,160 key short-term support. The US Nas 100 Index (a proxy for the Nasdaq 100 futures) has tumbled towards the 16,160/125 intermediate support as highlighted in our earlier analysis as it […]

Summary The December CPI report should indicate that the underlying trend in inflation is not re-accelerating, but it is unlikely to allay the FOMC’s increased concerns that inflation has become stuck uncomfortably above its target. We look for the headline CPI to rise 0.4% on the back of a strong gain in energy prices, which […]