- Gold’s slight rebound on Friday from a sharp selloff in the previous session lost steam as the dollar gained, putting it on course for a second weekly dip.
Retail Sales in the USA in August added 0.7% MoM, while analysts' forecasts assumed their further decline by 0.8% MoM. These strong results once again strengthened the market's confidence that the US Federal Reserve will resort to tightening monetary policy by the end of this year. The next meeting of the American regulator will take place on September 21-22, and the prospect of reducing the quantitative easing program (QE) may again become one of the main growth drivers for USD.
- U.S. government bond yields edged up on Friday, with the 10-year yield touching a two-month high, as traders look ahead to a busy week of central bank meetings including a key one at the Federal Reserve.
The 10-year yield briefly touched 1.3855%, its highest level since July 14, and was set for a fourth consecutive week of increases, the longest such streak since March.
