The dollar could come under pressure as U.S. equities are seen opening lower amid looming U.S. tariffs, ING’s Chris Turner said in a note.
President Donald Trump said on Sunday he would impose broad reciprocal tariffs and additional sector-specific tariffs on April 2.
“Unless we get some surprisingly strong U.S. retail sales figures today, a heavy-looking U.S. stock market looks likely to keep U.S. rates and the dollar on the soft side,” Turner said.
If retail sales data at 8:30 a.m. Eastern Time are weaker than expected, stocks could fall along with Treasury yields and the dollar, he says. Retail sales are expected to rise 0.6% month-on-month in February after a 0.9% fall in January, according to a WSJ survey of economists.
The DXY dollar index was last steady at 103.723.
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