FX: The pound was the strongest major currency on the day, while the safe haven Swiss franc was the weakest. US Data: Perhaps due to Amazon’s big two-day “Prime Day,” promotion, July Retail Sales came in better than expected at +0.7% m/m vs. +0.3% eyed; Core retail sales was even stronger at +1.0% m/m. Both the Philly and Empire regional surveys also beat expectations. July Industrial Production figures came in a bit soft at -0.2% vs. +0.1% eyed.The Bank of Mexico joined the global easing party by cutting interest rates 0.25%, leading to a touch of strength in the peso. Commodities: Gold ticked higher (see our analysis of the correlation breakdown between gold and bitcoin) on the day while oil dipped about 1%
US indices closed mixed in a choppy trading day as bond yields fell once again.Consumer Staples (XLP) led the way higher on the day, while energy stocks (XLE) were the weakest sector. Stocks on the Move:
- General Electric (GE) dumped more than 11% after the whistleblower for Bernard Madoff’s Ponzi scheme accused the company of shoddy bookkeeping.
- Cisco (CSCO) dropped nearly 9% after a disappointing earnings report.
- Walmart (WMT) surged 6% after a strong earnings report, putting the stock within striking distance of its record high.
Original from: www.forex.com