The dollar is strong against the euro and choppy against the pound this morning ahead of retail sales data for the US. A GDP update released yesterday showed that consumers are keeping the economy going, so the data today will carry some significance.
GDP data came in at 2% yesterday for the second quarter of this year, missing the forecast of 2.1%.
In US-China trade news, the Chinese government hinted that there will be no retaliation to recent tariff increases. Nonetheless, a solution seems like a distant possibility and fears of a global slowdown have been weighing on the Australian and New Zealand dollars.
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