It was a mixed week for US data releases this week. Investors were happy to see more data compared to the previous week, but these showed mixed readings.
On Tuesday we saw the release of durable goods orders. This was below the expected figure but still showed growth for the first time in two months, with consumer confidence that day also showing a slight decline on the previous month’s figure.
With no major data releases out during the day on Wednesday, attention turned towards the US Federal Reserve Interest Rate decision where no action was made. The comments led investors to believe that the Federal Reserve is open to a June interest rate decision, temporarily strengthening the US dollar. However, with weaker-than-expected advance growth data and more momentum building towards the ‘In’ vote for the UK referendum, we did see the US Dollar slip against both sterling and the euro.
Today we can look forward to both personal spending and personal income data. Both are expected to show growth. Later in the day we can expect consumer sentiment data, which is expected to show slight growth from the month before.
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