020 7898 0500A good day at the office for the dollar, despite the recent concern that next month’s interest rate hike will be the last made by the Federal Reserve for some time. The dollar made some significant gains against the pound initailly, but also strengthened against the euro.
There were no major economic data releases from the US yesterday, but the rest of the week promises to be a pretty busy one all told. Today we have the GDP growth rate for the third quarter of 2017 and Fed Chair Janet Yellen is set to give a speech later this afternoon.
Tomorrow we have the personal income data, and we end the week with the manufacturing purchasing managers’ index number. It is expected to decline slightly from 58.7 in October to 58.2 in November. However, it’s worth noting that any number above 50 indicates growth, so if the forecast proves true, it is still an extremely impressive number.
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