Concerns over whether the US and China will reach a ‘phase one’ deal before the next wave of tariffs kick in has caused the dollar to weaken. The US and China are due to hold a teleconference today. However, yesterday White House economic adviser Larry Kudlow said that the two sides are “getting close” to securing a preliminary deal.
The dollar was mostly unmoved yesterday, even as data released shows that the number of Americans applying for unemployment benefits rose to an unexpected five month high.
Today, we’ll see more data releases for the US, including retail sales, industrial production and manufacturing production figures. Retail sales are expected to increase to 0.2% month-on-month from the previous reading of -0.3%..
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