The United States dollar is very well likely to enter the times of troubles with accumulating political instability and below expectations key economic indicators. Over the course of the last two days, the American currency has lost approximately 1.8% of its value.
Being believed to disclose classified ISIS-related information to Russia, President Trump is now under fire. Both conventional media and left-leaning politicians in the White House are eager to call for impeachment, even though the factual evidence is still missing.
Comey resignation doesn’t add to the popularity of the real estate mogul as an American leader. Certain political activists, including Democratic congressman Al Green, voice concerns on Mr. Trump’s credibility and ability to rule world’s largest economy.
Not so bright economic performance
Certain experts, however, are more concerned with lower than expected performance of the national economy under President Trump’s administration. Core CPI, Core Retail Sales and Retail Sales, all released on May 12, turned out to be lower than expected. Although the difference between the expected and actual readings is inconspicuous, the results can still be alarming, especially considering unsettling Crude Oil Inventories and Building Permits.
The time will tell if the depreciation of the USD against other currencies is a short-term or a long-term trend. High volatility of currency pairs including the USD can be expected in the upcoming days.Trade now