The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
US Retail Sales
|The US dollar is quite volatile amid trade and geopolitical tensions. Positive economic data can support the greenback. Retail sales allow measuring consumer sentiment. That is why if the actual data is greater than the forecast, the US dollar has chances to strengthen. On the other hand, a disappointment will make the USD depreciate. Have a look at the economic calendar at 15:30 on May 15 to get a trade idea.|
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.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.