020 7898 0500It was a positive day for the US dollar on Friday in terms of the bounty delivered by data releases. Retail sales data posted its biggest growth in six years, followed by the release of Producer Price Inflation (PPI), which failed to meet expectations but still posted growth compared to the previous month. Consumer sentiment was expected to show a small increase from the previous month – however, this surprised by showing positive movements, moving to its highest level for a year.
We can expect a lot more data releases this week compared to the last. On Tuesday we see the release of inflation data in the form of a Consumer Price Index (CPI), which could fall in line with the PPI figure and show a mild increase on the previous month.
On Wednesday we see the release of the US Federal Reserve Meeting Minutes from the meeting that took place earlier this month. This is a key release for investors as it could show how split the Federal Reserve is in regards to another short-term interest rate hike. And to end the week, we can expect another stable figure from the weekly labour data, as well as the start of the G7 meetings which will be centered on the global economic issues.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
