020 7898 0500The US dollar weakened further on Friday, thanks to the release of lower than expected consumer sentiment data, which measures consumer confidence, fell to its lowest level in almost a year. Producer inflation data was also released, showing a better than expected figure – but this did not affect the markets.
We should be in line for a busy week for the US dollar. US Retails sales data is released on Tuesday with the expectation that this will drop compared to the previous month. Following this release will be Industrial production data, expected to decline for the first time in three months. Consumer inflation is also expected, and is forecast to show a negative figure for the first time in nine months – demonstrating the knock on effect on America from the struggling Chinese economy. Focus will be on Thursday, however, with the US Federal Reserve Interest Rate Decision, with recent reports suggesting the Federal Reserve may keep rates on hold as they worry about the state of the global economy and how this will affect the US economy.
