Currency Note US Dollar

US dollar boosted by rise in new home sales

By Smart Currency May 27th, 2014

The US dollar finished off last week with some positivity, reaching three-week and one-week highs against the euro and the yen respectively. Gains were helped by the country’s economic data release, which showed better-than-expected figures in the new home sales department.

Following on from yesterday’s bank holiday, this week’s data starts strongly today, with both the core durable goods orders and the consumer confidence due from the US to get things started. Tomorrow is a quieter affair, as investors anticipate Thursday’s growth figure from the preliminary GDP, alongside ever-important labour data, in the form of unemployment claims. These data sets will be backed up by pending home sales figures, before Friday rounds off the week in subdued fashion. Nothing major is due to close it out, with a number of smaller data sets including the Chicago Purchasing Managers’ Index and University of Michigan Consumer Sentiment the possible only causes for movement for the US economy.

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