Original title: "terrorist data" US retail sales unexpectedly improved in August, and spot gold prices fell by US $5 in the short term to continue the intraday decline.
The US released its closely watched terrorist data on August US retail sales at 20:30 Beijing time on Thursday in New York, which unexpectedly performed better than expected and recorded a positive figure. After the release of the data, the spot gold price fell slightly by $5 in the short term, extending the intraday decline.
Picture: spot gold price 5 minutes chart
Specific data show that the monthly rate of retail sales in the United States in August actually announced 0.70%, the expected-0.7%, the previous value-1.1%; the annual rate of retail sales in the United States in August actually announced 15.10%, with a previous value of 15.78%. The monthly rate of core retail sales in the United States in August actually announced 1.80%, with an expected rate of 0.0%, with a previous value of-0.4%.
Analysts point out that despite expected growth, the retail sector still faces supply chain disruptions, which many retail executives say are more serious than at this time last year. This has led to growing concerns that holiday merchandise from overseas will be delayed and that the surge of the Delta variant virus in parts of the United States could change consumer behaviour.
Retail sales data in the United States play an important role in determining the current economic situation and prospects in the United States, as retail sales directly reflect changes in consumer spending. The data will greatly affect market expectations for next week's Fed monetary policy statement, as well as market views on the dollar.
Data on initial claims for unemployment benefits for the week of September 11 were also released at the same time as US retail sales data for August. Specific data show that the number of initial jobless claims in the United States in the week ended September 11 actually announced 332000, expected to be 323000, with a previous value of 310000. The number of Americans who continued to claim unemployment benefits in the week ending September 4 actually announced 2.665 million, with an expected value of 2.74 million, with a previous value of 2.783 million.
Us retail sales are expected to grow 7-9 per cent to $1.28 trillion-1.3 trillion this holiday shopping season (Thanksgiving weekend to New year), as Americans prepare to spend more on travel and dining out as epidemic restrictions ease, Deloitte said on Tuesday. Online sales will remain a bright spot and are expected to grow by 11-15%. Rod Saedes, Deloitte vice-chairman, said: we believe that part of the reason for this rebound will be a recovery in the services sector.
Most recent US data have performed poorly. In August, the consumer confidence index of the University of Michigan and non-durable goods PMI showed a decline, which had a certain inhibitory effect on the continued expansion of consumption. In addition, the US non-farm payrolls data for August released on September 3 was much weaker than expected, and the growth rate of the job market slowed; after the quarterly adjustment in August, the monthly rate of CPI was 0.3%, less than the 0.4% expected.
Jason Pride, chief investment officer of Glenmede, says economic data are beginning to support the view that Qualcomm IncThe swelling may be temporary. 'it looks like the view of the market is coming closer to that of the Fed, which I think is stabilizing the range of interest rates that the market is digesting, 'Mr. Pride said. If the data are as weak as expected, the Fed will have reason to continue to delay Taper, and the dollar could be hit further, which will push gold and other major currencies higher.
At 20:35 Beijing time, the spot gold price was 1762.52 US dollars per ounce.