The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The USD may rise on the important updates
The levels of retail sales and core retail sales for the US will be released on February 14 at 15:30 MT time.
Retail sales represent the total value of sales at the retail level. This indicator is also a good measure of consumer spending, which shows the overall economic activity of the country. As for the core level, it does not include automobile sales. If this time the releases are higher than the predictions, the USD will be supported.
• If the indicators are higher than expected, the USD will rise;
• If the indicators are lower than expected, the USD will fall.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.