020 7898 0500The main release from the US yesterday was the retail sales figures for April. Sales increased by 0.3% last month which was in line with expectations, but we also saw the March figure revised upwards from 0.6% to 0.8%. In contrast with the UK, it appears that the American public have been spending their money.
The dollar enjoyed another decent performance against sterling and the euro, and the oil price hit a new three and a half-year high. The rise is largely down to Trump’s decision to pull the US out of the Iran deal which could see some Iranian oil production taken off the market.
Today we will see industrial and manufacturing production figures for April, as well as building permits for the same month.
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