The US dollar had a mixed day yesterday, trading within a fairly narrow range against a large number of its major partners. Data from stateside was mixed, leading to rises and falls in the dollar’s strength throughout the day. While the overall durable goods orders had shown a record rise, the figure was skewed by an increase in aircraft orders. As such, the normalised core figure which discounts aircraft orders actually showed a-greater-than expected decrease. Later in the day, we saw a little more encouragement as the consumer confidence figure came out above expectations.
Today is a lot quieter on the data front, as only the mildly important crude oil inventories are due, which might impact on the dollar from stateside. Otherwise, investors will be looking further ahead for reasons to keep the dollar near to its recent highs.