It is a truth universally acknowledged, that a currency in possession of a strong performance record must be in want of a correction. The US dollar is starting the week on a sharply weaker footing after Friday’s non-farm payrolls report confirmed what many had begun to suspect – growth in the world’s largest economy slowed during the first quarter.
With industrial production under water, durable goods orders down, and retail spending numbers flat, it is clear that the American growth engine machine has lost momentum, weakening the case for monetary tightening in the months to come.
Read the rest of the article Correction Fluid