020 7898 0500After some positive weeks for the US dollar, this week has been a bit more negative in terms of data releases. The American currency has shown strength this week, but for the most part this has been dictated by sterling weakness rather than anything else.
We saw the start of the data releases on Wednesday, when Consumer inflation figures were released just below forecast; this was coupled with a slight increase in the weekly unemployment data and forced the US dollar to weaken slightly. The US Federal Reserve will be keeping a close eye on inflation now – along with the continued drop in Oil prices, this may affect their future decisions on continuing to increase interest rates.
Today, we can look forward to Flash Manufacturing Purchase Managers’ Indices and Existing Home Sales, with both bits of data expecting a slight increase.
