020 7898 0500The US dollar had a relatively quiet day yesterday, with the US markets remaining tentative on the back of last week’s drama surrounding the devaluing on the Chinese Yuan Renminbi (CNY). The FED Empire State Survey Manufacturing Index data was the main data release of the day; this came out largely below forecast -14.92 but this did not have much of an effect on the American currency.
With minimal data released from the US today, the focus will be on the Building Permit data which is forecast to show 1.21 Million – showing a decline from last month. Wednesday, however, will be a key date for the diaries this week, as Consumer Price Index (CPI) data released along with the minutes from the FOMC’s latest meeting. Questions marks still surround the possible date for the US raising their interest rates – so it will be interesting to see how each Federal Reserve member stands.
