Currency Note US Dollar

Busy day for US economy could spell dollar movement

By Ricky Bean November 24th, 2015

Monday saw the release of a handful of data leading up to the US Federal Reserve Announcement. Both Flash manufacturing Purchase Managers Indices (PMI) and existing home sales figures fell just short of expectations, as well as the previous month’s figures, with the manufacturing PMI falling to yearly lows.
We can look forward to a busy day today for the US dollar, as preliminary growth data is released – it is expected to show a revised increase for the third quarter of this year, leading to more calls for an interest rate hike in December. Consumer confidence data is also released later today, with an increase on the previous month’s figures looking likely.