Wonderful Introduction:
Only by setting off can you reach your ideals and destinations, only by working hard can you achieve brilliant success, and only by sowing can you gain. Only by pursuing can one taste a dignified person.
Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Avatradescn Forex Market Review]: The growth rate of retail sales in the United States slowed down in April, and gold rebounded nearly 2%!". Hope it will be helpful to you! The original content is as follows:
On May 16, in the early trading of Asian market on Friday, Beijing time, the US dollar index hovered around 100.63. On Thursday, the US dollar index fell and finally closed down 0.22% to 100.79 due to a slowdown in retail sales growth in April and an unexpected decline in PPI monthly rate. The benchmark 10-year U.S. Treasury yield closed at 4.4350%; the two-year U.S. Treasury yield closed at 3.9820%. Spot gold closed up 1.97% to $3,239.21 an ounce on Thursday due to weak U.S. economic data, weak dollar and Putin’s absence of negotiations in Turkey. Spot silver finally closed up 1.30% at $32.62 per ounce. As the market expected the U.S. and Iran to reach a nuclear agreement, WTI crude oil closed down 2.63% to $61.17 per barrel; Brent crude oil closed down 1.89% to $64.53 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered around 100.63. US retail sales increased by 0.1% in April, exceeding expectations of flat growth, but failed to change market sentiment. U.S. sales in April increased by 0.1%, surpassing expectations of flat growth, but failed to change market sentiment. Federal Reserve Chairman Powell said the Fed's www.avaforexcn.communication methods are about to change and stressed the need to better deal with future supply shocks. Technically, from a technical point of view, the US dollar index needs to close below the support level of 100.20–100.40 to obtain an additional downward trend.head.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
Thursday, gold trading around 3236. US data showed that the producer price index (PPI) unexpectedly fell 0.5% in April, failing to reach the expected 0.2% increase. Core PPI fell 0.4%, lower than expected 0.3% growth. Meanwhile, retail sales slowed during the same period, up just 0.1% month-on-month, while the March figure was raised to 1.7%. Economists had expected the numbers to be the same as last month. The number of initial unemployment claims rose to 229,000 for the week ending May 10, in line with expectations and the same as the previous week. After the data was released, gold bulls regained the $3,200 mark
2) Analysis of crude oil market trends
On Friday, crude oil trading around 61.09. WTI prices fell slightly as expected by the expectation that the United States (US) and Iran may soon reach an agreement on Tehran's nuclear program. A senior adviser to Iran's supreme leader said Wednesday that Iran is preparing to sign a nuclear deal with U.S. President Donald Trump with certain conditions in exchange for lifting economic sanctions. On Thursday, Trump said the United States is approaching a nuclear deal with Iran, and Tehran has agreed to the terms “to some extent”. The development of possible nuclear agreements could put pressure on WTI prices.
Forex market trading reminder on May 16, 2025
① To be determined, the Hang Seng Index www.avaforexcn.company announced the series of review results of the Hang Seng Index
②13:30 France's first quarter ILO unemployment rate
③17:00 Eurozone March seasonally adjusted trade account
④20:30 The total number of new houses started in the United States in April
⑤20:30 The total number of construction permits in the United States in April
⑥20:30 The monthly rate of the U.S. import price index in April
⑦22:00 The expected initial value of the US May one-year inflation rate
⑧22:00 The initial value of the University of Michigan Consumer Confidence Index in May
⑨The next day 01:00 The total number of oil drilling rigs in the week from the United States to May 16
The above content is about "[Ava Aihua Foreign Exchange Market Review]: The growth rate of retail sales in the United States slowed down in April, and gold rebounded nearly 2%!" was carefully www.avaforexcn.compiled and edited by the Avatrade Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for the support!
Due to the author's limited ability and time constraints, some content in the article still needs to be discussed and studied in depth. Therefore, in the future, the author will conduct extended research and discussion on the following issues: