We saw a bit of US dollar weakness yesterday morning due to euro strength, but the US currency remained quite static against its peers for the rest of the day. Retail sales data was as expected, showing positive signs of growth following a weak previous month. Weekly unemployment claims also came out as expected, along with import prices, which showed that it is getting cheaper for the US to import. This rounded off a mixed week so far for the US dollar, which has mostly been affected by euro and Chinese yuan movements.
We can expect a flat day for the US currency today, with producer inflation data due to be released just shy of the previous figure. Industrial production is to remain level with last month’s growth, while consumer sentiment should show further growth in the sector. Any surprises in this trio could influence dollar strength, while events elsewhere may also help to shape the dollar’s performance as we approach the weekend.