The dollar remains under pressure this morning as improved market sentiment continues. Chinese trade data painted a better picture of the economy than expected and the number of daily fatalities in the US has fallen.
At the end of last week, the greenback weakened after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses. This improved general optimism surrounding the virus and offset disappointing jobs data.
Continuing jobless claims came in at 7455k, below expectations of 8000k but a significant jump from the previous reading of 3059k. This comes as businesses close due to lockdown measures in the US.
On Friday, US inflation rate came in at 1.5% year-on-year. The Consumer Price Index showed that prices fell by the largest amount in five years in March.
This week, we’ll see retail sales for March, which are predicted to have dropped, as well as industrial production figures.
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