We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • - The Singapore Dollar (SGD) presents a unique undertaking for traders - It is guided by the MAS, which manages the exchange rate instead of short-term rates - Learn the principals of developing an SGD fundamental forecast to trade USD/SGD https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/03/The-Singapore-Dollar-and-MAS-What-is-SGD-and-How-to-Trade-it.html
  • #DidYouKnow a #Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/c51s3IBcEu https://t.co/eWM70sTfq3
  • Natural Gas trading is popular among traders due to its volatility. How can you trade this? Find out here: https://t.co/GSzSS9fn7Z https://t.co/bl0lp9NtkQ
  • #EURUSD pivot points (daily) – S3: 1.0991, S2: 1.1065, S1: 1.1093, R1: 1.1167, R2: 1.1214, R3: 1.1288- https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Hello there, traders! Themes for this week's webinar: - US-China #tradewar - #HongKongProstests: Carrie Lam's visit to Beijing - #UKElections2019 recap + outlook - Government shutdown in 2020? - Update on #RCEP - CRUCIAL rate decision this week⬇️ https://www.dailyfx.com/webinars/146770987
  • With increasing volatility in weather patterns, how might storms, hurricanes, and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Get your market update from @ZabelinDimitri here:https://t.co/O4dgBl47fq https://t.co/eMb7iCfdqS
  • Join analyst @DavidJSong at 5:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/1rVzPr6gx4
  • See the DailyFX Fundamental and Technical forecasts for the week ahead on the major currencies, indices and commodities here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2019/12/15/Dow-Pound-and-Aussie-Dollar-Test-Post-Trade-War-Election-Breakouts.html
  • The US-China agreement brings this scene from camp cinema history to mind: https://t.co/WsfoGMZbw1 via @GIPHY https://t.co/h045efj8Em
  • What is the ascending triangle and how can you trade it? Find out here: https://t.co/SyL29jQflv https://t.co/F8415DaNGE
Gold Propels; Dollar Drops After US Retail Sales Disappoint

Gold Propels; Dollar Drops After US Retail Sales Disappoint

2019-10-16 14:01:00
Thomas Westwater,

Retail Sales Talking Points:

  • Gold lifts higher on downbeat retail sales data; with the headline figure printing -0.3%, vs expectations of +0.3%
  • USD price action wilts on increased FOMC rate cut odds
  • Retail Sales Ex Auto declined 0.1% vs a 0.2% gain expected

US Consumers reigned in their spending for the month of September as retail sales data printed a disappointing -0.3% vs expectations of 0.3%, although August was revised up from 0.4% to 0.6%. The figure is closely watched by market participants and economist to gauge the strength of the US consumer. Gold was propelled higher on the report and briefly breached 1491.00 before giving back some gains to 1485.59 at the time of writing.

XAUUSD (5-Min Chart)

Gold 5-Min Chart

With that being said, the Federal Reserve has been keeping a close eye on the health of the US consumer as they are the primary force that drives the US economy. The miss on retail sales bolstered odds of another Fed rate cut indicated by pricing in overnight swaps which put an 85.3% probability for a rate cut at this month’s FOMC meeting – up from 72.8% yesterday.

Gold Propels; Dollar Drops After US Retail Sales Disappoint

Volatility in the US Dollar also picked up as the DXY index dropped to 98.18 immediately following the report crossing the wires, although the reaction is not as strong compared to gold’s move. The weakness is likely reflective of the increased odds of a rate cut being priced into the market.

DXY Index (5-Min Chart)

DXY 5-Min Chart

--Written by Thomas Westwater, Intern Analyst for DailyFX.com Contact and

follow Thomas on Twitter @FxWestwater

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.