The Pound remains subdued for the time being. This is due to a combination of vaccine related headlines, rising tension in Northern Ireland and the upcoming Scottish Parliamentary elections on 6th May. The market will pay close attention to see how the pro-independence SNP party fair against the competition in the polls.
Euro (€) German final consumer price inflation index came out as forecast at 0.5%. The Italian government has approved EUR 40 billion worth of fiscal stimulus to help its economy recover. Italy also cut its 2021 GDP forecasts from 4.5% growth to 6.0 which limited any gains for the Euro.
US Dollar ($) The Dollar is still showing signs of strength. US retail sales data came out much better than anticipated at 9.8% compared to 5.8% that was forecast. In addition, unemployment claims beat the expected 703K figure with a release of 576K. However, industrial production disappointed the market shortly after.