Global FX Daily - USD edges lower after weak retail sales and will remain at the mercy of the macro context -BBVA Market Strategy

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2024/02/16

Global FX Daily – USD edges lower after weak retail sales and will remain at the mercy of the macro context

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- EURUSD stabilises above 1.07 as positive market sentiment reinforces supports
- UK retail sales for January suggest the economy may be stabilising after contracting in 2H23
- LatAm currencies recover ground vs. the USD as it continues retreat to from recent highs
- Taking profits in long USDPEN, with a bias towards re-entering
- The CLP fails to get its act together even after dovish central bank minutes

Global FX Daily – USD edges lower after weak retail sales and will remain at the mercy of the macro context

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