More activity from the US and hawkish comments could mean movement for US dollar

The US Dollar remained quite flat on Monday, with minimal data releases. The only release of the day was new home sales data, which came out worse than expected, with the lowest reading since December 2014.

We have a host of data due out today however, with durable goods orders expecting to show a more positive figure compared to last month’s, and consumer confidence expecting to post another strong figure. However, the focus on this week will be on Wednesday’s US Federal Reserve rate decision and statement that follows. The central bank is expected to keep rates on hold, but with recent hawkish comments made by various members a rate rise could still be possible sooner than expected.