November's retail sales report was rather disappointing. Not only did good spending stagnate over the month but, as prices rose, this translated into a 0.4% decline in sales volumes, NBC ecnomists report.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is further stabilising and trying to recover further towards levels seen last week before US President Donald Trump’s inauguration.
Chance for US Dollar (USD) to retest 156.70 before a more sustained pullback is likely. In the longer run, USD weakness has stabilized; it is likely to consolidate between 155.30 and 157.55 for the time being, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.