Forex and Gold Daily Report for October 16, 2012

The dollar rose against the yen on Tuesday after U.S. retail sales beat expectations, while Japanese industrial output figures fell short of market forecasts. while the U.S. dollar traded slightly higher against its major counterparts on Monday, following stronger-than-forecast U.S. retail sales last month, but bullishness remained subdued amid ongoing Spanish bailout uncertainty.   and Gold prices crept up in Asian trading on Tuesday as investors cautiously embraced risk early in the session on news U.S. retail sales beat expectations, ditching the safe-haven dollar in the process.

  • The Australian dollar was steady against its U.S. counterpart on Monday, after the release of positive data from Australia, as uncertainty over whether Spain will ask for a sovereign bailout continued to weigh.
  • The euro was mostly flat against the U.S. dollar  Monday as positive U.S. retail sales numbers combined with Spanish bail out fears sending mixed signals to the currency markets.
  • The pound remained lower against the U.S. dollar on Monday, as uncertainty over whether Spain is about to request a full-scale sovereign bailout continued to dominate market sentiment.
  • The U.S. dollar climbed to a one-week high against the yen on Monday as concerns over a slowdown in global economic growth eased following encouraging Chinese data, but gains were limited as uncertainty over a Spanish bailout persisted.
  • Gold futures traded lower during U.S. afternoon hours Monday, falling to the lowest level since mid-September after official data indicated that U.S. retail sales rose more-than-expected in September, increasing for the third successive month.

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