The US dollar had a mixed day yesterday, with internal and external influences impacting the markets. While inflation data from the UK saw the dollar gain on the UK currency, the dollar weakened elsewhere as economic data from the US came out below expectations. The Empire State Manufacturing Index failed to hit its anticipated level, and the measure of inward and outward flowing capital showed the largest net selling since February 2009.
After a slow start to the week with a bank holiday on Monday, activity increases today starting with the building permits and the Producers’ Price Index. Investors, however, will be looking to the evening for the minutes from the latest US Federal Reserve meeting, to get an idea on the general sentiment from the members and their view on the US economy.
Wondering when to buy or sell US dollars? Call your trader now for the latest rates, as investors again look to the bigger picture.