The dollar resumed its sell-off in the Tuesday session, falling to its lowest level since August 2008 against the euro at 1.4874 and the Australian dollar at 0.9124. Spot gold continued to extend its gains, touching a fresh all-time high just shy of the $1,070 level at $1,069.70, while crude oil edged up higher to $73.87 per barrel. US equities were largely flat, little changed from the previous session.
With corporate earnings season picking up this week, traders will closely scrutinize tomorrow’s economic reports. The data to be released include September retail sales, import prices, export prices and business inventories. The headline retail sales report is expected to post a 1.4% decline in September compared with a 2.7% increase a month earlier. The excluding automobiles retail sales are expected to improve by 0.2% for September versus a 1.1% in the previous
month.
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