Weekly Market Summary: U.S. Dollar Rallies, As Foreign Growth Outlook Becomes Murky

Macro headlines drove the trading action this week. On Wednesday, the Bank of England lowered its 2019 growth forecast to 1.2%, which would represent the worst performance in a decade. The European Commission also cut its target for 2019 growth in the Eurozone on Thursday, to 1.3%. Elsewhere, reports circulated this week that President Trump would meet with North Korea’s Kim Jong Un later this month. However, volatile trade talks with China took a turn for the worse and Trump said on Thursday he will not speak with President Xi before a looming deadline on March 1, for increased tariffs on Chinese imports.… Read more