A plethora of data released this week – will it be good news for the US dollar?

The US Dollar weakened slightly on Friday thanks to sterling strength, and weaker-than-expected Flash Manufacturing Purchasing Managers’ Indices which fell to the lowest level on record.

Investors will be looking forward to a week with plenty more data releases than the last week. On Tuesday, we see the release of Durable Goods Orders – and this is expected to post growth for the first time in two months. The spotlight however will be on Wednesday and the US Federal Reserve interest rate decision; this is expected to remain the same, and the statement that follows will be very carefully scrutinized for possible hints as to whether or not US interest rates will be raised at Junes meeting. On Thursday, we can look forward to the Advance Gross Domestic Product (GDP) figure for the first quarter which is expected to show growth but significantly less than the previous quarters. To end the week, we will see the release of Personal Spending and Personal Income; both are expected to show growth on the previous months’ figures.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.