The US dollar ended the week on a positive note gaining significant ground against sterling. This week sees the release of a whole range of significant US data plus the Federal Reserve meeting midweek which will influence currency movements.
On Tuesday we look forward to monthly figures for durable goods orders as well as consumer confidence figures. Positive figures for both will give a good indication of economic sentiment, which could affect Wednesday’s central bank meeting. The big question on everyone’s lips will be whether the Federal Reserve will taper its quantitative easing programme once again, following last month’s move to reduce capital injections by $10 billion per month. With growth, inflation and labour market figures scheduled for release on Thursday it could be a turbulent week for the US currency.
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