020 7898 0500Monday was a very quiet day for the US dollar in terms of data releases; the only figures we saw were the Empire State Manufacturing Index, which showed contraction for the first time in three months. While in practice this only monitors the New York area, in theory these figures will be used to gauge other areas – although this did not make much of an effect on the market, as once again sterling dominated the movement seen throughout the day.
We can look forward to a more eventful day for data today, with Consumer Inflation and Industrial Production figures expected. Consumer Inflation currently has a big question mark against it; only a small drop is expected from the previous month, but if the recent Producer Inflation figures are anything to go by, the figure could be larger than expected.
If you are looking to buy or sell dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
