The dollar steadied yesterday and weakened this morning as demand for safe-haven currencies waned slightly. In its latest move to help the economy, the Federal Reserve pledged yesterday to start purchasing U.S. corporate bonds. This has improved market sentiment and has sent the greenback lower.
Today, we’ll see the release of retail sales figures, which are expected to show an increase from last month’s reading of -16.4%. These will be followed by a series of other data, including manufacturing and industrial production.
Federal Reserve Chair, Jerome Powell, will also give his testimony in front of congress later today, ahead of another speech on Friday. He’s expected to say that the economy will begin to recover as businesses open across the US.
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