020 7898 0500The US dollar dipped slightly against most major peers yesterday, due mainly to positive yet underwhelming inflation data. This led economists and traders to surmise that another interest hike was not immediately on the cards. Building Permits data was also flat, showing no considerable growth in the economy. The fact that inflation posted a slight improvement, however, offset dollar weakness.
Today sees two more US Tier One data releases in the form of Crude Oil Inventories (which arguably affects commodity currencies such as Canadian and Australian dollar more) and the release of Federal Open Market Committee (FOMC) meeting minutes. However, as this is released at 7pm GMT, any effects will be seen more clearly tomorrow.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
