020 7898 0500Thursday was a busy day for the US Dollar, with very mixed data releases. We saw the release of contrasting US Inflation data. Overall inflation dropped to its lowest figure since January 2009, but the Core Inflation figure was positive and higher than market expectations. Generally, the Core Inflation figure will be more accurate and in line with actual US inflation, as this excludes the volatile reading from energy and food prices (which have been both been affected by the recent slump in oil prices). US Unemployment Claims and Durable Goods Orders both recorded an increase month-on-month.
We expect another busy day for the US Dollar today, with the release of the initial growth figure. This is forecast to show positive growth for the fourth quarter of 2014, and be above average when compared to other key developed nations. We also have the release of Housing Data and consumer confidence indicator plus two members of the Federal Reserve are due to give speeches.
