Analysis of gold news: Gold prices rose sharply late on Tuesday (June 18) as market participants awaited U.S. data and comments from Federal Reserve officials to further clarify the central bank’s interest rate cut roadmap. U.S. retail sales in May recorded a monthly rate of 0.1%, slightly lower than market expectations of 0.3%. This data reflects the cautious consumption behavior of consumers in the context of rising inflation and interest rates. Spot gold rose by about $17 in the short term, reaching a maximum of $2,332.74 per ounce, and then quickly fell back by about $10. The U.S. dollar index fell by nearly 20 points in the short term before rebounding slightly. Retail sales data are a key indicator of consumer spending and economic vitality. This article will take an in-depth look at the performance of U.S. retail sales data in May and its impact on the market. U.S. retail sales in May recorded a monthly rate of 0.1%, slightly lower than market expectations of 0.3%. This data reflects the cautious consumption behavior of consumers in the context of rising inflation and interest rates. Rising prices and interest rates have led households to prioritize necessities and reduce spending on non-essentials. In addition, banks have tightened credit and increased repayment pressure on low-income borrowers, further inhibiting the growth of the retail market. Federal Reserve official Williams and others expressed positive views on the current economic situation, emphasizing the solidity of the job market and the downward trend of inflation. They expect interest rates to gradually fall as inflation slows and the economy returns to more sustainable levels. Surveys by well-known institutions show that higher inflation is still a tail risk that investors are concerned about, but the market’s concerns about this have declined. Statements from Fed officials and market data show that inflation is returning to the 2% target level, and interest rates are expected to fall in the next few years. The lower-than-expected U.S. retail sales data in May had a short-term impact on the market, but the long-term economic outlook still requires attention to the Fed’s policy trends and changes in economic fundamentals. Investors should remain cautious and pay attention to the global economic situation and geopolitical risks to make reasonable investment decisions.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2345 first-line resistance at the top and the 2315 first-line support at the bottom.
Analysis of crude oil news: In the U.S. market on Tuesday (June 18), U.S. crude oil continued to rise in late trading and is currently trading around $81.58 per barrel. U.S. crude oil surged nearly $2 on Monday, hitting its highest settlement price in more than a month, continuing last week’s gains as investors became more optimistic about the demand outlook. U.S. crude oil futures rose $1.88, or 2.4%, on Monday to settle at $79.72 a barrel, the highest since the end of April. Global benchmark Brent crude futures rose $1.63, or 2%, to $84.25 a barrel, the highest level since April. As investors became increasingly optimistic about the demand outlook, international oil prices continued their gains and hit a new high in the past month. WTI crude oil futures once approached the US$80 mark, but did not stand there. Finally, they closed up 2.41% at US$79.95 per barrel. Crude oil and product inventories have risen at an unseasonal pace since February, and if this trend continues, it could put pressure on oil prices in the third quarter. If inventories continue to build rapidly, oil prices will fall.
Today’s crude oil strategy: It is recommended to focus on the rebound to high altitudes, supplemented by the callback to lows. The top should focus on the 82.1 first-line resistance, and the bottom should focus on the 79.1 first-line support.
Operations need to be done with caution and are recommended for reference only.
