The US dollar had a largely positive day, driven mostly by a single data release beating its expectations. The dollar managed to rise to a 14 month high against the euro, thanks to the new home sales figure from stateside being much better than expected, showing a strong increase from last month. As such, investors gained further encouragement that interest rates could rise sooner than expected.
Today holds a number of further crucial figures, which could help continue this trend. The durable goods orders are due, alongside the ever-important unemployment claims. With the recent suggestion that interest rate rises will be data driven, strong economic figures could help the dollar along, with the labour market in particular routinely at the forefront of investors’ minds. Elsewhere, the ongoing situation in Syria will remain on people’s radars, as developments there could affect US dollar sentiment.