The US dollar managed to finish last week off strongly, making gains against the majority of its major partners. Significant movement was seen against sterling, as it rose the most in three months to move away from the four-year highs, despite job openings data coming in a little worse than expected.
This week starts slowly today, with the Federal Budget balance due later this evening, an event of minor significance. Tomorrow we see more important data in the form of retail sales figures, while mid-week brings a Producers’ Price Index. Thursday is another important day for data, with both inflation figures and unemployment claims due in tandem, defining the health of two crucial aspects of the US economy. Overnight into Friday will see US Federal Reserve Chair Janet Yellen speaking, before final data of the week comes from building permits and preliminary consumer sentiment. So lots of US data to influence the movement of the US dollar one way or the other.
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