020 7898 0500It was a quiet day for US economic data and the dollar slid a little against sterling and the euro because of events elsewhere. The rest of the week is much busier, so the question is whether the dollar can post some big moves over the next few days. With the Fed set to meet on Wednesday, as well as the BoE’s interest rate decision on Thursday, it wouldn’t be a surprise to see some volatility between sterling and the dollar.
Today we will see the personal income and spending figures for June, while tomorrow sees the release of July’s manufacturing PMI and the Federal Reserve’s interest rate decision. Rates are expected to be kept on hold this time around, but it will be interesting to see what Fed Chair Jerome Powell has to say about recent events, particularly if he responds to Trump’s recent comments on rate hikes.
