The most important day for U.S. retailers is here and questions are rife on whether king dollar is set to lose its crown.
Retailers have offered mixed results in the most recent earnings season. Just this week, Walmart lifted its annual sales and profit forecast as demand for groceries was expected to hold up despite higher prices, while Target forecast a surprise drop in holiday-quarter sales.A man leaves a currency exchange bureau showing an image of the U.S. dollar in Cairo, Egypt March 17, 2020.The rise of the U.S.
Manufacturing PMIs for October pointed to a deepening contraction in global industry, with developed markets leading the decline. In most European countries, PMIs are below the 50 marker that separates expansion from contraction -- France was an exception. The COVID outlook remains murky. Noises from Beijing are that “life-saving” measures are essential, which argues against making too much of a two-day reduction in quarantine times.