Strong Chinese economic data, including GDP growth and industrial production, caused the dollar to weaken briefly against a basket of currencies this morning. The dollar has also weakened slightly against the pound yesterday on lower-than-expected industrial production figures, showing at -0.1% instead of 0.2%.
The NAHB housing market index came in at 63, continuing the past few months’ upward trend.
Today, we will see the important balance of trade figures for February, expected to come in at around $-53.5 billion. Tomorrow, we will also see US retail sales, month on month, which are forecast to show an increase.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
