Retail, PPI data hit USD; gold rebounds $100+.

On Thursday, influenced by the slowdown in retail sales growth in April and the unexpected decline in PPI monthly rate, the US dollar index fell and ultimately closed down 0.22% at 100.79. The benchmark 10-year US Treasury yield closed at 4.4350%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 3.9820%. On Thursday (May 15th), the gold market experienced a "shocking reversal" as spot gold prices fell nearly 2% in early trading in Asia, reaching a low of $3120.64 per ounce (over a month low). Subsequently, bulls launched a counterattack and eventually closed at $3239.58 per ounce, with a daily increase of nearly 2% and a fluctuation of over $100! On the one hand, the Russia Ukraine peace talks have been postponed to Friday, and leaders from both sides will no longer attend. On the other hand, the poor performance of the US economic data has raised expectations of a Fed interest rate cut, leading to a significant decline in US bond yields and a downward pressure on the US dollar index. Due to market expectations that the US Iran nuclear agreement will lead to increased supply, WTI crude oil closed down 2.63% at $61.17 per barrel; Brent crude oil closed down 1.89% at $64.53 per barrel.