15:00 - 17.08.2026

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August 17, Fineko/abc.az. Softening consumer confidence and retail sales data in the US point to a cooling economy, dampening market expectations of a Federal Reserve rate hike in September.

The University of Michigan’s consumer sentiment index dropped to 51 for August, while retail sales in July registered their largest monthly decline in over a year. Ian Lyngen from BMO Capital Markets noted that these weak figures bolster arguments for the Fed to pause rate increases next month.

Following the data release, the Bloomberg Dollar Index hovered near its lowest levels since May. Meanwhile, oil prices rose amid US threats of new economic sanctions against Iran and geopolitical tensions in the Middle East. Weakness in the US dollar also supported gold, keeping the precious metal trading near $4,400 per ounce.