With a very quiet Monday and Tuesday, the focus on the week was on the following two days with both retail sales and consumer inflation due. Wednesday saw the start of US dollar weakness, with a lower-than-expected retail sales figure. Inflation in the form of a Producer Price Index (PPI) dropped further to lows not seen since May this year.
It was a mixed Thursday for the US dollar, with a mixed view on data releases. We saw the release of consumer inflation data, which posted another negative figure for the second month running. However, the core figure posted a better-than-expected result. The US Federal Reserve tends to focus more on the core figure as it strips out food and energy prices, which tend to fluctuate. The weekly unemployment change also posted a better-than-expected figure, which led to some US dollar strength.
Today we have industrial production data due. This is expected to show a negative figure for the second month running, alongside an expected stable consumer sentiment release, which is used to gauge consumer confidence.