The dollar has found some strength this morning due to rising expectations of a 25 basis point cut, rather than a 50 basis point cut. Federal Reserve Chairman Jerome Powell speaks today, which will possibly have further impact on the greenback.
US retail sales data will be released this afternoon, and will be worth watching due to the possibility of price pressures kicking in due to tariffs on Chinese goods.
In the latest US-China trade news, President Trump has said that his friendship with President Xi Jinping is not as good as it was, due to trade tensions. Treasury Secretary Steven Mnuchin is likely to have a call with Beijing this week, and has said that “there’s a good chance” he’ll travel to China if the talk is productive.
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