020 7898 0500We saw a slow Friday for the US dollar last week, with various data releases having little effect on the currency. Producer inflation data in the form of a Producer Price Index was slightly better than expected, alongside positive industrial production figures. However the movements were still being dictated by events elsewhere, with euro strength affecting the dollar’s performance.
A quiet start to this week sees a New York state regional manufacturing index, expected to show slight growth from the previous month. Building permits in the US are expected to decline, and housing data to improve. The focus on the week will be on consumer inflation – this is expected to show a slight drop – and US Federal Reserve meeting minutes, where the focus will yet again be on members’ expectations of an interest rate rise. Thursday will see the weekly unemployment claims and existing home sales data, both expected to remain stable. A manufacturing Purchasing Managers’ Index (PMI) on Friday is expected to show growth in the sector, but less so than in the previous month.
