By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: US Dollar halts decline as revised Retail Sales data indicates strong outlook
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > US Dollar halts decline as revised Retail Sales data indicates strong outlook
Forex

US Dollar halts decline as revised Retail Sales data indicates strong outlook

News Room
Last updated: 2024/07/16 at 9:12 PM
News Room
Share
4 Min Read
SHARE

US Retail Sales saw a slight uptick in June, which resulted in some gains for the US Dollar on Tuesday as reported by the DXY index. However, the overall outlook for the USD remains negative due to dovish bets on the Federal Reserve. Market confidence in a possible rate cut in September remains high, despite the cautious stance maintained by Fed officials.

The US economic outlook shows signs of disinflation, leading to increased confidence among traders for a rate cut in September. Retail Sales figures for June, while flat at 0.0%, were revised upwards from a previously reported increase of 0.1% to 0.3%. Retail Sales ex Autos also rose by 0.4% after a 0.1% decline in May that was revised upward to 0.1%. The CME FedWatch Tool further supports the probability of a rate cut in September, with odds currently standing at over 85% for a 25-basis-point cut.

Despite the DXY index regaining the 200-day Simple Moving Average, the technical outlook for the USD is still bearish. Both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are in negative terrain, signaling a selling opportunity. While a slight upward correction may occur, the overall technical outlook remains bearish, with a fragile bullish momentum gained on Tuesday.

Central banks play a crucial role in maintaining price stability within a country or region by managing inflation levels through their policy rates. Central banks like the US Federal Reserve, European Central Bank, and Bank of England aim to keep inflation close to 2%. By adjusting their benchmark interest rates, central banks can influence savings and lending rates, impacting accessibility to credit for individuals and businesses. Monetary tightening occurs when rates are hiked substantially, while monetary easing refers to rate cuts.

Central banks are typically politically independent, and members of the policy board have varying views on how to control inflation and manage monetary policy. “Doves” advocate for looser monetary policies to boost the economy, while “hawks” prefer higher rates to control inflation. The chairman of the central bank plays a key role in creating a consensus among board members and delivering speeches to communicate the monetary stance and outlook. Members are required to maintain discretion in their communication leading up to policy meetings to prevent market disruptions.

In conclusion, the US Retail Sales figures for June have provided a boost for the US Dollar, albeit with a bearish overall outlook due to dovish expectations on the Federal Reserve’s future actions. Market sentiment remains positive for a potential rate cut in September, supported by data indicating disinflation in the economy. Central banks play a critical role in managing inflation through their policy rates, with a focus on maintaining price stability. The political independence of central banks allows for diverse views on monetary policy strategies, with the chairman leading meetings and communication efforts to ensure market stability.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room July 16, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Amir and the French President talk about the latest news in Gaza
Next Article Stripe expands cryptocurrency purchasing options for EU customers through card integration – Is adoption on the rise?
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?