020 7898 0500It was a quiet day for US dollar data on Monday, with Existing Home Sales making up the only data release. It dropped further than expected, to new lows not seen for three months, which could be a cause for further concern to the US Federal Reserve, particularly when it comes to the central bank’s interest rate decisions. However, we did have the President of the San Francisco Federal Reserve state that interest rates could increase in April of June – this seems to have been largely ignored by the markets as the US dollar didn’t react.
Today will be much of the same, with only a Flash Manufacturing Purchasing Managers’ Index (PMI) due, that is of significance. These are expected to post mild growth in the sector, but any surprises could spell movement for the US dollar.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
