The new Federal Reserve Chair Jerome Powell was sworn in yesterday and, in his opening remarks, he said that the global economy has recovered strongly since the financial crisis. He did, however, say that the Fed were conscious that there were still potential risks to financial stability.
The dollar lost ground against sterling and the euro yesterday, but with no releases of note this is nothing to get too alarmed about. Today is a busier calendar, with January’s inflation rate set for release, as well as the retail sales for the same month.
Inflation is expected to drop from 2.1% to 1.9%, while retail sales have been forecast to fall to 0.2% from 0.4%.