The US dollar is down against the pound this morning, as both markets open for trading after public holidays. Tensions with China continue to rise, with the latter’s Foreign Minister Wang Yi saying that ‘decades of America-China cooperation’ will be ‘undone’ as the countries come ‘to the brink of a new Cold War’.
This morning, we will see the S&P/Case-Shiller home price index, which is expected to still show growth year-on-year. Consumer confidence is also expected to show further movement towards to the positive.
The markets will be looking forward to GDP growth data this Thursday, which is expected to fall 4.8%.
