020 7898 0500It was a mixed week for the US dollar, struggling early on with labour data showing productivity decreasing by 0.5% and the Atlanta Fed downgrading the third quarter GBP forecast to 3.7% from 3.8%. The US dollar then picked up on Wednesday after the Job Openings and Labor Turnover Summary (JOLTS) and Crude Oil Inventories figures showing positive signs.
Thursday saw a number of fundamental data releases out of the US. Import prices rose slightly and in addition to this, we saw an increase in Natural Gas storage, as well as Jobless Claims data that came out as expected.
Today is a busy day for the US as Retail Sales, Producer Price Index (PPI) and consumer sentiment data are all due to be released. Retails sales and PPI figures are expected to show a drop compared to previous results, whilst consumer sentiment is expected to show an increase.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
