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The US dollar stabilizes due to the increase in US retail sales -17-06-2020

News Date: 17/6/2020 06:45:57

American retail sales rose to reach their highest levels, which pushed the US dollar to stability. The FOMC vision from President Jerome Powell, which resulted in the anticipation of a black view of the American economy, in turn boosted the hopes of continuing political support, as Jerome Powell indicated Until the complete recovery of the American economy will not be possible for the American people until completely controlling the Corona pandemic.

The number of infection cases increased  yesterday on the united states, and there was six states  characterized by a record increase in cases of infection, as did the numbers of infections in Beijing, and this news was disappointing and discouraging to achieve any economic recovery !

The euro made a gain after the release of the FOMC vision, as the US dollar pair stabilized against the euro at 1,123 dollars, achieving an increase of 0.18%, and the euro traded a month ago at  $ 1.08.

As for the pound sterling, it settled at $ 1.25, and it achieved a decrease of 0.022%, it was at the height of its levels yesterday, due to the circumstances that Britain is currently going through, as it is preparing to withdraw from the European Union, which hindered the movement of the pound sterling.

The oil futures for July delivery decreased by 2.58%, to be traded at $ 37.39, as the gold futures contracts decreased by 0.25%, to be traded at $ 1732.20 an ounce. Also, the silver prices for the month of July fell by 0.46 %, To be traded at $ 17.57.

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