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US Retail Sales on Watch
The US dollar has softened a little over the final European morning of the week, continuing to pull back from recent highs of 99. Despite the softness so far today, the dollar ends the week firmly higher. CPI data yesterday came in a little weaker than expected at 0.1% on the month vs 0.2% expected. However, in light of recent data strength, the figure hasn’t detracted from positive USD sentiment. Retail sales released later today will be the final key US data of the week.
EUR Slide Hits 2017 Levels
EURUSD has been a little firmer over the session so far today, rallying on the back of weakness in the dollar. However, the outlook remains firmly bearish for EUR in light of the heavy sell-off this week which has seen prices breaking down to their lowest level since early 2017. Both coronavirus fears and Brexit trade-deal uncertainty weigh on the currency. EURUSD trades 1.0845 last.
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