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US reports form market sentiment

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After the release of disappointing data on US retail sales, market participants again started purchasing trading instruments,excluding the US dollar. Thus, gold managed to recover a part of its early losses. The precious metal rose by $11 to the level of $1,161 a troy ounce. The report of the US Department of Commerce led to another flow of speculations over the date of the rates hike by the Fed. The economists' hopes for the toughening of the monetary course were also undermined by weak statistics on the US key economic sector. Today, the situation may change again.
The US statistical services are going to unveil a series of reports, including one on the PPI. Most analysts expect another proof of positive changes and predict that prices grew by 0.3%. Also, today the University of Michigan is going to reveal preliminary data on consumer sentiment. In regard to this, analysts are also optimistic anticipating an increase to 95.7.

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