The dollar edged down on Friday as investors were underwhelmed by the limited scope of executive actions and the lack of concrete policy reforms in the inauguration speech of newly sworn-in U.S. President Donald Trump.
Investors had been looking to Trump's first address as president to highlight his plans for fiscal spending, tax cuts and regulatory reforms. Instead, Trump focused his remarks on his "America first" policies this worried investors as it raises concerns over US protectionism that could slow US growth.
Retail sales in December dropped 1.9% from the previous month as sales across all main retail sectors declined, with the heaviest falls coming from non-food stores, the ONS said.The Figure was the biggest monthly fall for more than four and a half years.
The Black Friday discounts in late November made it harder to keep shoppers spending during December analysts said. Experts had predicted a much smaller 0.1% monthly fall. Many experts believe that retailers will struggle this year as higher prices due to a weaker pound will reduce disposable income and hurt consumer spending growth.
11:30 – EUR : Mario Draghi Speaks