Quiet day for the US dollar as sterling continues to dictate the markets

Wednesday was a quiet day for data in the US, with only Flash Services Purchase Managers Indices (PMI) being the release of any note- and this showed contraction in the sector for the first time since October 2013,which was a shock to investors. However the performance of the US dollar against sterling was once again sterling dictated.

Today’s we can expect slightly more data, in the lead up to Friday’s Gross Domestic Product (GDP) figures. Durable goods orders are expected to post growth for the first time in three months, along with the weekly unemployment data, which is expected to remain stable.