It has been a strong week for the US dollar, initially strengthening over a cent against sterling, which it gave back on Thursday, and gaining just short of two cents against euro. This was mainly contributed to less dovish comments made in the US Federal Reserve Statement. Data releases have been less than impressive for the US, with durable goods orders dropping further than expected and advance growth figures falling just short of the expected figure.
The focus on this week was on the US Federal Reserve statement. Federal Reserve members voted in favour of leaving interest rates at an all-time low, but comments suggested that they are certainly leaving the door open for an interest rate hike in December.
Today we can look forward to both personal spending and personal income data – both are expected to post growth in these areas. Following this, we have Federal Reserve member Williams speaking – here, anything interest rate focused will have an impact on the markets.