Dollar Falls Most in Three Weeks as Retail Sales Trail Forecast

---

The dollar fell the most in three weeks after retail sales gained less than forecast last month, fueling speculation the Federal Reserve is in no hurry to start raising interest rates.

The greenback snapped a six-day rally against the euro as a less-robust rebound in the consumer sector combined with below-forecast jobs growth to add to concern the slowdown in economic growth may reflect more than the harsh U.S. winter season. The U.S. currency almost reached a 12-year high Monday versus the 19-nation euro as investors look for clues on the timing of the first Fed rate increase since 2006.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, dropped 0.7 percent to 1,119.30 as of 2:14 p.m. New York time, reaching the lowest level on a closing basis since March 20.

The U.S. currency dropped 0.9 percent to $1.0665 per euro. It strengthened to $1.0458 on March 16, the strongest since January 2003. The currency fell 0.7 percent to 119.30 yen.

Source : Bloomberg

Gold Futures Drop to Two-Week Low on Fed Interest-Rate Outlook

---

Gold futures fell to the lowest in almost two weeks on speculation that a smaller-than-expected gain in U.S. retail sales won’t be enough to keep the Federal Reserve from raising interest rates this year.

Purchases at U.S. retailers increased 0.9 percent, the first gain in four months, after a 0.5 percent drop in February, government figures showed Tuesday. The median forecast of 87 economists surveyed by Bloomberg called for a 1.1 percent advance.

Gold futures for June delivery fell 0.6 percent to settle at $1,192.60 an ounce at 1:48 p.m. on the Comex in New York, after reaching $1,183.50, the lowest since April 1.

Silver futures for May delivery declined 0.8 percent to $16.161 an ounce on the Comex, also the fifth loss in six sessions.

Source: Bloomberg

U.S. Stocks Rise as Energy Rally Overshadows Semiconductor Slump

---

U.S. stocks rose, with the Standard & Poor’s 500 Index near its average price for the past 50 days, as a rally in energy companies and oil overshadowed semiconductor declines before Intel Corp. results.

The S&P 500 gained 0.2 percent to 2,096.11 at 4 p.m. in New York. The Nasdaq Composite Index declined 0.2 percent.

Sales at U.S. retailers rose less than forecast in March after being depressed by harsh winter weather, signaling consumers are intent on not overextending themselves.

Purchases increased 0.9 percent, the first gain in four months, after a 0.5 percent drop in February, Commerce Department figures showed. The median forecast of 87 economists surveyed by Bloomberg called for a 1.1 percent advance.

Source : Bloomberg

U.S. Shares Fluctuate Amid Retail Sales Data as Energy Rallies

---

U.S. stocks fluctuated as weaker-than-forecast retail sales added to signs of slowing growth, while energy shares rallied with the price of crude.

JPMorgan gained 1.7 percent after reporting quarterly profit that beat analysts’ estimates. Chevron Corp. climbed 1.8 percent as oil rose for a fourth day. Google Inc. lost 1.3 percent while Microsoft Corp. and Cisco Systems Inc. declined. Norfolk Southern Corp. fell 5.6 percent after saying lower-than-expected revenue will probably lead to a decline in first-quarter earnings.

The Standard & Poor’s 500 Index rose 0.1 percent to 2,095.16 at 12:13 p.m. in New York, after earlier falling as much as 0.4 percent. The Dow Jones Industrial Average added 58.23 points, or 0.3 percent, to 18,035.27. The Nasdaq Composite Index declined 0.3 percent as technology shares retreated.

Sales at U.S. retailers rose less than forecast in March after being depressed by harsh winter weather, signaling consumers are intent on not overextending themselves.

Purchases increased 0.9 percent, the first gain in four months, after a 0.5 percent drop in February, Commerce Department figures showed. The median forecast of 87 economists surveyed by Bloomberg called for a 1.1 percent advance.

Source : Bloomberg

European Stocks Decline as Nokia, Banks Lead Stoxx 600 Lower

---

European stocks retreated from a record, snapping a five-day advance, as Nokia Oyj and banks declined.

The Stoxx Europe 600 Index fell 0.5 percent to 411.7 at the close of trading, paring earlier losses of as much as 0.8 percent. Nokia slid 3.6 percent after confirming talks to buy Alcatel-Lucent SA, which jumped 16 percent. Banco Santander SA and Intesa Sanpaolo SpA dragged bank stocks to the biggest loss on the Stoxx 600. Rio Tinto Group and BHP Billiton Ltd. led a rebound in miners, with gains of at least 2.8 percent.

European stocks extended a record on Monday, with Spanish equities jumping to their highest levels since January 2010. The Stoxx 600 has rallied 20 percent this year amid better-than-expected data including last week’s German industrial production report, pushing valuations to the highest in at least a decade.

Source: Bloomberg