Markets Retreat on Signs of Consumer Strain
The dollar is retreating as optimism surrounding the weekend’s trade deal continues to diminish and US consumers show signs of exhaustion, leaving investors to contemplate longer-term risks to the American economy. Treasury yields are moving higher, equity indices are indicating a modest softening in today’s session, and most majors – excluding the Canadian and Australian dollars – are up against the greenback. Oil prices are trading lower after President Trump said the US is close to reaching a deal with Tehran that would lift sanctions on its energy exports in exchange for a commitment to halt Iran’s nuclear weapons development....