Data released from the US yesterday showed inflation rose less than expected in February as costs of used vehicles, clothing and transportation services declined from a month earlier. The outlook for US inflation for the remainder of the year remains mixed with investors and economists unable to agree and predicting a wide variation in outcomes.
The Dollar has lost ground against many of its major counterparts with GBP/USD advancing towards 1.3950 as the safe-haven dollar weakens with falling yields and the stimulus bill’s approval. Congress has cleared the $1.9trillion aid bill to offer emergency aid and broader income assistance to Americans.
All eyes will today be on the European Central bank press conference at 1:30pm. Researchers are however expecting little policy change from the ECB and confirmation they won’t extend the amount of support offered to the economy.
Have a great day.
William Jones, Senior Relationship Manager.
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