Strong US retail sales and potential ceasefire in Middle East are positive for market.

From Investing.com: 2024-10-18 05:02:00

The European Central Bank (ECB) announced a 25bps rate cut but kept the door open for a potential move in December, causing the euro to weaken. Market focus is now on upcoming Fed speeches, especially from Fed’s Bostic. Gold prices soared above $2,700 as China unveiled additional support measures. The US retail sales surprised on the upside, indicating a robust economy. The possibility of a ceasefire in the Middle East conflict is also being discussed, potentially impacting market sentiment. The UK pound rallied on stronger retail sales data, overshadowing concerns of a November rate cut.



Read more at Investing.com: Strong US Data Keep the Greenback in Demand