Crude oil and gold prices are looking to the US Retail Sales report for direction cues as a correction in risk appetite threatens to strike the markets.
Talking Points
- Crude Oil and Copper Look to US Retail Sales Data to Refuel Risk Trends
- Gold, Silver May Pull Back if Better US Data Weighs on Anti-Fiat Demand
Commodity prices are in consolidation mode as markets wait for February's US Retail Sales data to cross the wires. Expectations call for an increase of 0.5 percent from the prior month. A print in line with expectations would fall broadly in line with trend averages and seems unlikely to yield a significant response from financial markets. That will leave the door open for cycle-sensitive crude oil and copper prices to decline along with a broad-based correction in risk appetite playing out on Asian and European bourses. S&P 500 index futures are pointing sharply lower ahead of the opening bell on Wall Street.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
