Trade war uncertainty, poor data and a strong pound weighed on the dollar yesterday. The greenback is still down against the euro this morning. Figures showed that the trade deficit narrowed to $47.2 billion in October of 2019 from a downwardly revised $51.1 billion in the previous month, and below market expectations of a $48.7 billion. It is the lowest trade gap since May of 2018.
This data follows poor manufacturing, services and private payrolls data earlier in the week. Non-farm payrolls are due to be released today, predicted to come in at 175,000. Consumer sentiment figures will also be released.
The greenback also suffered due to a lack of clarity over the US-China trade war, caused by conflicting headlines and mixed rhetoric.
Meanwhile, the Democratic Party announced that they will be going ahead with impeachment charges against the President.
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