The U.S. dollar maintained its dominance on Tuesday. Economic data showed China’s industrial production rising 6.0% on the year. The data missed estimates of a 6.3% increase. Retail sales in China also came out lower than expected at 8.8%. The data underlined the fact that the trade wars were starting to have an impact.
In the Eurozone, German GDP advanced 0.5% coming out higher than the median forecasts of 0.4%. The data showed that economic momentum increased in Europe’s largest economy. Revised estimates for the Eurozone showed that GDP rose 0.4%, up from 0.3% from the initial estimates.
In the UK, the average earnings index rose just 2.4% as the unemployment rate fell to 4.0% marking a 43 year low.
Looking ahead, the economic data today will see the release of the inflation figures from the UK. Median estimates show that consumer prices might have increased 2.5% on the year ending July, marking a higher increase in inflation. Core CPI is expected to remain steady at 1.9%.
In the U.S. retail sales is tipped to rise by 0.2% while core retail sales are forecast to rise 0.4% on the month.
Other second-tier data includes the Empire State manufacturing index and industrial production figures.
