Currency Note US Dollar

Slow beginning of the week for the US dollar

By Ricky Bean June 16th, 2015

Not the best of starts to the week for the US dollar in terms of data releases. The currency had begun Monday strong, reacting against weaker news from the UK and Eurozone, before this was reversed thanks to lower than expected manufacturing and industrial data.

Today’s releases include building permits and housing stats, but with no huge movements expected here, the focus will be on tomorrow’s Federal Reserve statement. This is expected to be a detailed analysis of Federal Reserve views on the current US economy – and when they view an interest rate rise would be appropriate; any major shifts on this is likely to have an effect on the markets.