020 7898 0500The US dollar had a strong end to the week as speculation mounted once again that the US may be looking to raise interest rates in the next few months. This was in spite of Wednesday’s Federal Open Market Committee (FOMC) minutes suggested that there were mixed feelings over the possibility of a further interest rate hike, and Thursday’s US inflation outlook which confirmed they are still well short of their 2% target.
This week begins very quietly with no major data due for release on Monday. US home sales data will be released on both Tuesday and Wednesday with crude oil inventories also released on Wednesday. The main data release will come on Friday in the form of the US Gross Domestic Product (GDP) figure which is expected to show growth of 1.1%.
The key event this week will be the Jackson Hole Symposium where Federal Reserve Chair Janet Yellen will be speaking and is widely expected to provide a clue as to when the US may look to next raise interest rates.
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