Greenback sees further disappointment
- USD - CPI m/m
- USD - Retail Sales m/m
- AUD - Employment Change
The Greenback retraced yesterday’s gains, as the stock market began to recover. The markets seem to have overlooked the Bullish CPI figure, focusing on the Bearish Retail sales, which dropped to -0.3%, compared to 0.2% expected. This was the biggest decline in 11 months with a reduction in the sales of motor vehicles and building materials contributing to the bearish figure. The previous reading was also revised down from 0.4% to 0.0%. Core Retail Sales also posted worse than expected at 0.0%.
- USD - PPI m/m
- NZD - Business NZ Manufacturing Index
- AUD - RBA Gov Lowe Speaks
The Greenback received further disappointment today, as the Weekly Unemployment Claims rose by 7k to 230k. The Empire State Manufacturing Index fell to 13.1 from the 17.7 originally expected. The US monthly PPI figure posted as expected at 0.4 %, providing the Fed with further support for a March rate hike.
Some of the EU members states have asked for the footnote imposing sanctions on the UK during to the Brexit transition period to be changed. The footnote provides a mechanism in which the EU could impose the removal of certain benefits if the UK disobey the EU laws. This clause is said to have been removed from the draft document and provided some strength to the Pound.