Markets have reacted with vigour in response to US data and comments from Trump and the Fed.
Editor’s Remarks: US retail sales saw expectation-defying growth in their January figures, which were up 5.6% on the previous year’s numbers. Meanwhile, business sales recorded a 2% growth in December, their highest increase since 2011. Trump’s reaffirmation of promised tax cuts added to the sugar rush off Fed Chair Janet Yellen’s comments signalling an upcoming interest rate rise, altogether setting Wall Street off into a fifth day of record highs and pushing the dollar to rise for the 11th day in a row.
What to watch: The Dollar Index, US Markit PMIs, US Home Sales