{"id":165088,"date":"2020-02-17T10:35:59","date_gmt":"2020-02-17T15:35:59","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=165088"},"modified":"2020-02-17T10:35:59","modified_gmt":"2020-02-17T15:35:59","slug":"us-retail-sales-meet-estimates","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/us-retail-sales-meet-estimates\/","title":{"rendered":"US Retail Sales Meet Estimates"},"content":{"rendered":"
February 17, 2020<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Retail sales numbers from the United States have come out, printing a result that was in line with broad expectations.<\/p>\n

Data from the Commerce Department showed that retail sales rose by 0.3% in January after a slower 0.2% increase earlier.<\/p>\n

Excluding motor vehicle parts, retail sales were up 0.3% following a 0.6% increase earlier.<\/p>\n

German GDP Stays Flat in Q4, 2019<\/strong><\/h2>\n

Germany\u2019s economic growth stalled in the final three months of the year in 2019. This came on slower consumption and weaker exports.<\/p>\n

GDP remained unchanged from the previous quarter. Meanwhile, the Q3 2019 GDP was revised to show a 0.2% increase. For 2019, the annual GDP growth rate for Germany is 0.6%. This is the slowest growth rate since 2013.<\/p>

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EURUSD Remains Pinned to the Downside<\/strong><\/h3>\n

The common currency did not make much progress as it consolidates near the 1.0839 level. Price action indicates a possible rebound on the divergence.<\/p>\n

However, the falling trend line needs to be breached. The outlook for the euro continues to remain weak on the fundamentals.<\/p>\n

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Crude Posts Weekly Gain for 1st Time in 6 Weeks<\/strong><\/h2>\n

Crude oil prices made its first modest weekly gains in nearly six-weeks. The gains come following the initial sell-off.<\/p>\n

Oil traders were bearish assuming weaker demand\u00a0due to the virus outbreak.<\/a>\u00a0Meanwhile, a weekly build in inventory also did not dampen the rebound in the commodity.<\/p>\n

WTI Breaks Resistance, Can it Rise Further?<\/strong><\/h3>\n

Crude oil prices settled above the 51.65 resistance level into Friday\u2019s close. The gains come following a strong selling pressure in the previous weeks.<\/p>\n

The gains could see the corrective move pushing prices toward the 54.73 level next. This is, of course, if price action can hold above the 51.65 resistance level.<\/p>\n

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Gold Remains a Favorite Amid Uncertainty<\/strong><\/h2>\n

Despite equity markets maintaining their lead, gold prices also rose last week. The gains in the precious metal come amid the uncertainty due to\u00a0the Coronavirus outbreak.<\/a><\/p>\n

The US administration announced that it was working on developing a drug to cure the virus. The precious metal is trading closing to the previous highs made late in December.<\/p>\n

XAUUSD Clears Resistance as it Approaches Previous Highs<\/strong><\/h3>\n

The precious metal cleared the resistance area of the 1573 \u2013 1569 region. Price action is close to testing the previous highs near 1589.50.<\/p>\n

This will be a strong resistance area between 1589.50 and 1594.50. A breakout above this level could send XAUUSD further toward the 1640 level next.<\/p>\n

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By <\/strong>Orbex<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Retail sales numbers from the United States have come out, printing a result that was in line with broad expectations. Data from the Commerce Department showed that retail sales rose by 0.3% in January after a slower 0.2% increase earlier. Excluding motor vehicle parts, retail sales were up 0.3% following a 0.6% increase […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-165088","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=165088"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165088\/revisions"}],"predecessor-version":[{"id":165105,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165088\/revisions\/165105"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=165088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=165088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=165088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}