The US dollar closed out last week in largely positive fashion, enjoying gains against the majority of its major partners, bar the Japanese yen.
This week’s major events for the US dollar start tomorrow, with the retail sales figures to kick things off. Later that day, US Federal Reserve Chair Janet Yellen will be speaking in Washington in front of the Senate Banking Committee and any hints regarding future monetary policy will likely spur a significant reaction in the markets. Key inflation data is due to be released on Wednesday as well as the Beige book which will reveal the state of the local economies from all 12 Federal Reserve Banks. Furthermore, Ms Yellen will be testifying once again in Washington, this time to the House Financial Services Committee. Thursday brings three more key data releases for investors to mull over. The building permits and unemployment claims are due together, followed by manufacturing data from the Philadelphia Federal Reserve. Friday closes out a very busy week with consumer sentiment figures providing the final release that could dictate the US dollar’s performance.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news, and currency-purchasing strategies.