020 7898 0500Wednesday saw another day of US dollar movements being dictated by sterling. Because of this, the US currency saw some strength, even with minimal data releases due. The only significant data Stateside were import prices, which showed a contraction for the first time in 6 months as expected, showing that imported goods are becoming cheaper for the US.
We can expect a busy day today, with various data releases due from the US. Early in the afternoon, we look forward to Retail Sales figures, which are expected to show contraction for the first time in five months. Producer Price Index (PPI) data will also be released today, but will be expected to show the first signs of growth in two months. Rounding up the day will be weekly unemployment claims data, which is expected to post another stable figure.
For the latest rates and news on a wide range of currency pairings, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
