A pleasantly quiet time for the US dollar – but will it last?

It has been a fairly quiet week for the US data releases, providing a relatively stable time for the US dollar, with market movements being dictated mainly by news affecting sterling and the euro. Building Permits data on Tuesday showed a slight decline, with housing statistics showing a positive figure. Thursday showed yet another stable figure for the weekly Unemployment Change data, with existing home sales climbing to a two-month high. The primary focus for the week, however, was on various US Federal Reserve members speaking, with most being very hawkish, stating that the job market, in particular, has been performing well.

The only data expected today is the flash Manufacturing Purchasing Managers Index, with the expectation that the sector will show continued growth.

If you are looking to buy or sell US dollars, this could be the calm before the storm. We suggest contacting your trader now for live rates, news and currency purchasing strategies.