The US dollar hit a one month high on Wednesday as US data dampened hopes of interest rate cuts

The US dollar hit a one month high on Wednesday as US data dampened hopes of interest rate cuts

Gold prices have fallen to a new low in over a month

Due to stronger than expected US retail data, the US dollar rose against a basket of currencies other than the pound on the 17th. The US dollar index fluctuated strongly in the overnight market, rising in the morning and significantly narrowing in the afternoon. In the end of the day, the US dollar index rose.

The US dollar index, which measures the US dollar against six major currencies, rose 0.09% on the same day and closed at 103.450 at the end of the foreign exchange market.

On Wednesday (January 17), due to the strong December retail sales data released by the United States Census Bureau, the strong economic data in the United States pushed the yield of treasury bond bonds to rise, while traders cut the Federal Reserve's interest rate cut bets. Gold was sold off, falling below $2,010 dollars/ounce, approaching the psychological support level of $2,000 dollars/ounce, hitting at least $2,001.72 dollars/ounce, the lowest since December 14, and is expected to face greater pressure later.

International crude oil has rebounded. WTI crude oil started to rise during the US trading session, recovering all lost ground during the day and briefly reaching a intraday high of $72.80, ultimately closing up 1.21% at $72.67 per barrel; Brent crude oil rose 0.37% to $78.01 per barrel.