Another quiet start to the week. US Personal Income increased and Personal spending decreased, showing that the public are now looking to start saving with the anticipation of a possible rate rise later this year. The figure for pending home sales in the US also increased, the biggest increase since July 2014.
We are expecting a busier day today for the US Dollar, as three Federal Reserve Members speak – Fischer, Lacker and Lockhart. Their spotlight will be firmly centred on talks regarding Interest Rates. Consumer confidence is also expected to show a stable figure, meaning further good news for the US economy.
The currently strong US economy is affecting the strength of the country’s currency against its major pairings. Contact your trader for the latest rates, news and information on how this may affect you.