After a choppy start to the week, the dollar is up against the pound, boosted by oil prices yesterday. These gains lasted through the afternoon, despite home sales continuing to drop and the Redbook Index showed sales growth to continue to drop further into the negative.
Later today, we will see further oil-related data releases, which the markets will be watching closely. Tomorrow, we will see jobless claims, which are forecast to continue to grow.
Donald Trump tweeted yesterday that he would sign an executive order to halt immigration to the US during the coronavirus crisis, although the order is currently still being considered by the Office of Legal Counsel of the Justice Department.
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