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