The dollar weakened further on Friday afternoon, after Chicago PMI data pointed to further decline in Manufacturing. The figure came in at 42.9, missing expectations of 48.9. Personal Income missed expectations, whilst Personal Spending came in as expected but failed to boost the greenback.
The dollar is stronger this morning ahead of a series of Manufacturing figures, which will offer more insight into the health of the US economy. Balance of Trade figures will be released on Wednesday. As always, the markets will look ahead to Non-Farm Payrolls at the end of the week, which are expected to come in at 165,000 for January, an increase from 145,000 in December.
US senators will hear closing arguments for Donald Trump’s impeachment trial today, which will be followed by two days of debate. On Wednesday, they will vote on whether Trump should be removed from office. As the senate is controlled by Republicans, Trump is expected to be acquitted.
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