020 7898 0500The dollar enjoyed a positive run against sterling and the euro yesterday, following the release of more positive employment data. Initial jobless claims in the week up to 10 March 2018 came in at 226,000 from 230,000 the month before which was in line with expectations. The figure is close to the 48-year low that was hit in February and is further evidence of a robust jobs market.
While this was welcomed news for the US economy, Trump’s new economic adviser stole the headlines with his warning to China over trade. Kudlow said that China had earned a tough response from the US and there are concerns that Trump will impose new tariffs on Chinese imports. If he does, we can expect China to retaliate – which, let’s face it, is how a protectionist trade war starts.
Today we have building permits for February, as well as the industrial and manufacturing production figures. We will also see the University of Michigan’s consumer sentiment.
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