Phase one of the US-China trade deal was finally signed yesterday, and the dollar weakened as a result. The overall reaction from currencies was fairly muted since the signing has been expected for a long time and it is just the beginning of a larger deal that needs to be agreed. President Trump and Vice Premier Liu He signed their initial trade agreement at the White House yesterday afternoon. However, the US will maintain tariffs on Chinese goods until the second phase of the agreement is complete.
Today, retail sales figures for the US will be released. They are expected to show a 0.3% growth in trade after coming in at 0.2% last month.
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