020 7898 0500Yesterday was a rough day for the dollar with disappointing US manufacturing reports and increasing commodity prices, thereby weakening the currency. Furthermore, business activity has, so far, fallen in May. The New York Federal Reserve’s barometer posted a negative figure for the first time since October!
Looking to the week ahead we have a light data schedule for the dollar, with the main release being industrial production for April. We’re expecting a modest rise, which may help support the dollar after today’s downward trend.
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