The dollar was weaker yesterday as global risk sentiment improved, meaning that investors began to move away from safe-haven currencies. However, it is stronger this morning due to prevailing global economic worries.
US retail sales figures for March are due to come in today and, due to coronavirus lockdown measures, are expected to show a dramatic drop. Industrial production figures will also be released.
During a press conference at the beginning of this week, President Trump claimed that he has “total authority” to lift lockdown measures in the US. Ten states on the East and West coasts are planning to lift their strict stay-at-home restrictions.
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.
