020 7898 0500It was a fairly quiet start to the week for the dollar, as UK and European politics dominated the headlines. Geopolitical tensions in both the Far and Middle East continue to simmer in the background, which isn’t doing the dollar any favours.
Later in the week we’ll find out how the US performed in first quarter. GDP is forecast to have slowed down to 1.1% from 2.1% in the previous quarter. This is likely to have been driven by low levels of real personal consumption in January and February, which accounts for around 70% of US GDP.
We’ll also hear how US wage growth has changed, although it’s likely to remain fairly subdued. This, coupled with weak GDP data, could weaken the dollar.
