020 7898 0500Yesterday we saw the dollar trading narrowly against its rivals due to the lack of data printed from the US. The only data worth mentioning was the NAHB Housing Market Index which came out one point worse than expected at an index of 59. This has caused little movement in the market because, although the result was lower than the previous reading, any number above 50 is still thought to be positive news for the dollar.
Today we look forward to further housing data, with the release of Building Permits data and Housing Starts data. These are both expected to show a small increase on the previous month, indicating good US economic development and implying bullish tones for the dollar. This could cause the currency to strengthen against sterling nad/or the euro –but really any surprises could cause fluctuations in US dollar markets, as could any further Brexit-related developments in the UK.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
