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No Immediate Affect on US Dollar After Downbeat Data

Investors were waiting for the US Retail Sales and Unemployment data which failed to beat the economist’s expectations. Currently the market is silent and no big move is seen in any pair. 

(XAUUSD : 4 Hour Chart)

However I think US dollar will suddenly go down and its counterparts will go up. Looking at the Gold 4 hour chart, the metal is currently testing the resistance at 1267.09 and should break this resistance to surge. The nearest resistance metal will find is at 1275.34.

Now let’s have some glance on the report:

Core Retail Sales m/m: 

Actual - .1%, Forecast - .4%

Retail Sales m/m:

Actual - .3%, Forecast - .5%

Unemployment Claims: 

Actual – 317K, Forecast – 306K