The dollar recovered a little ground against sterling and the euro over the past week. While Brexit negotiations appear to be going nowhere, there has been a recovery in the other major trade flashpoint, US-Chinese relations.
This could be easily damaged by loose words from President Trump this week, but with the lowest number of new cases for two months in the US yesterday (fewer than 35,000) from the “China virus” as Trumps calls it, there are hopes that the US problems could be easing.
The markets are being entertained by the Republican national Convention while waiting for the big news of the week, the (virtual) Jackson Hole symposium on Thursday.
We also have a slew of home price data today and durable goods orders tomorrow. Friday sees personal income and spending.
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