The US dollar index climbed to its highest in almost two weeks on Friday after encouraging retail sales data for May released ahead of a Federal Reserve policy meeting next week eased fears that the US economy is slowing sharply.[NEW YORK] The US dollar index climbed to its highest in almost two weeks on Friday after encouraging retail sales data for May released ahead of a Federal Reserve policy meeting next week eased fears that the US economy is slowing sharply.
Data for April was revised up to show retail sales gaining 0.3 per cent, instead of dropping 0.2 per cent as previously reported. The US economy is also seen as better placed to handle trade tensions than other countries. The US dollar"has benefited to date from negative globalisation news as the domestic side of the US economy has looked sufficiently robust to deal with trade-related headwinds," Morgan Stanley analysts said in a report on Friday.
Chinese data on Friday flashed more warning signs, with industrial output growth unexpectedly slowing in May to a more than 17-year low and investment cooling, underlining a need for more stimulus.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »