On May 16, the U.S. Department of Commerce announced the monthly rate of U.S. retail sales for April.。U.S. retail sales rose 0 in April from a month earlier, according to published data.4% to $686.1 billion, less than market expectations of 0.8%, the former value is decreased by 0.7%, an increase of 1.6%。

Breaking down, U.S. April grocery store sales up 2.4%, online sales growth of 1.2%, health and personal care products sales growth of 0.9%, Auto Dealer Sales Up 0.4%。In addition, U.S. sales of sporting goods, musical instruments and bookstores fell 3.3%, gas station sales decreased by 0.8%, household goods sales also decreased by 0.7 per cent, with the above three items leading the decline.。

On a year-on-year basis, sales of food and beverage services contributed the largest increase, up 9% from the same period last year..4%, boost market confidence。Some analysts say that while U.S. retail sales grew less than expected in April, the underlying trend remains solid。

In addition, according to data released last night, the monthly rate of U.S. industrial output recorded 0 in April..5%, better than expected 0.00% and previous value 0.40%; the U.S. NAHB Housing Market Index recorded 50 in May, the highest since July 2022 and the first time since that month that it touched the 50-year-old line; the U.S. monthly business inventory rate recorded -0 in March..1%, better than expected 0.00% and previous value 0.20%, representing reduced inventory pressure and improved production cycle conditions for U.S. commercial entities。

From the data point of view, the basic trend of U.S. economic recovery is more certain, economic resilience is still in place, gold safe-haven demand weakened。

Debt crisis meeting 'too smooth' Biden takes reassurance before leaving U.S. McCarthy says deal may be reached by weekend

In terms of the debt crisis, yesterday's meeting between President Joseph Biden and House Speaker Kevin McCarthy was unexpectedly smooth and ended in less than an hour.。Earlier, there were fears that an unprecedented U.S. bond default was imminent, and Biden was even forced to shorten his upcoming trip to Asia for that reason.。

After the meeting, McCarthy made a high-profile announcement: "It is possible to reach a deal by the end of the week.。"

The U.S. debt crisis has reached a point where it is imminent.。It is reported that after yesterday's talks, Biden will fly to Japan today to attend the G7 leaders' summit。In addition, next Monday also coincides with the United States Memorial Day (Memorial Day), the House of Representatives is expected to recess before the end of the week。And according to a letter to Congress from U.S. Treasury Secretary Janet Yellen (Janet Yellen), the Treasury Department will run out of cash as soon as June 1 without raising the federal debt ceiling.。

According to the White House, Biden will return to Washington to continue negotiations on the debt ceiling immediately after attending the G7 Hiroshima summit from May 19 to 21。If so, the parties have less than 10 days to reach a final agreement before the deadline given by Yellen.。

The smooth consultations on May 16 will undoubtedly give Biden, who is about to leave the United States, a reassurance.。The problem is also expected to remain unchanged, as the consequences of a debt default are far worse than expected.。Yellen has warned that Congress's eventual failure to raise the debt ceiling would cause serious hardship for American families, undermine America's global leadership and call into question America's ability to defend its national security interests.。

At least, so far, the problem has gradually developed on the bright side, although last night U.S. stocks due to concerns about debt risk caused a late sell-off, but gold's safe-haven demand has also been further weakened, because the market did not expect yesterday's negotiations so smooth, gold prices fell sharply。

After you sing, our Federal Reserve officials are scrambling to put on the hawk. Spot gold has broken through 1990 US dollars / ounce for the first time in two weeks.

One wave, another。

On May 16, Cleveland Fed President Loretta Mester (Loretta Mester) said that given the stubbornness of inflation, he believes the Fed's policy rate has not yet reached a level that can be maintained for some time.。Earlier, there have been regional Fed chairmen who have expressed hawkish views that inflation is improving more slowly and that economic weakness is not serious, and that interest rates will remain high and are likely to rise further.。

Mestre noted that policymakers know the effects of their rate hikes are not yet fully felt in the economy, and she wants to see more data before the Fed's next meeting in mid-June, including data reflecting tighter bank credit.。It's worth noting that Mester has also made several hawkish views before this, but she doesn't have a vote on the Federal Open Market Committee (FOMC) this year.。

On the same day, Thomas Barkin, chairman of the Richmond Fed, also suggested that he liked the "selectivity" implied in the Fed's latest policy statement, but was "willing" to raise interest rates further if needed to reduce inflation.。

The hawkish views of Fed officials have once again caused panic in gold bulls, with spot gold falling below $1,900 an ounce for the first time in nearly two weeks yesterday.。

As of press time, spot gold continued to fall during the day, falling 0.13%, currently traded in 1986.67 yuan / ounce。

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