US July retail sales data to be released tonight, data will affect expectations of Fed rate cuts

The retail sales data for July in the United States will be released tonight at 20:30 (UTC+8), and the market expects a month on month increase of 0.1% in retail sales. This data reflects the consumption willingness and purchasing power of US residents. Against the backdrop of intensified internal divisions within the Federal Reserve and the decline in international gold prices from $4400 per ounce, stronger than expected data will push up the US dollar and suppress expectations of interest rate cuts, while weaker than expected data will exacerbate recession concerns and boost precious metals and safe haven sentiment.