With a strong start to the month behind it, the US dollar stalled on Friday due to conflicting data from the states. After trading within a wide margin against the euro throughout the week, the US dollar weakened significantly on Friday as consumer sentiment data came out worse than expected.
The first major release during the week ahead comes tomorrow, with core inflation released in the afternoon. The next major release comes in the shape of the Federal Open Market Committee (FOMC) meeting minutes on Wednesday. This will provide an in-depth insight into FOMC members’ view of the US economy, and could drive further US dollar strength. With unemployment claims and existing home sales released on Thursday, the US dollar is in for a week which could see significant movement.