020 7898 0500The US Dollar continued a relatively calm week, that began with the surprising results of the Non-Farm Employment figure on Friday of last week. Wednesday saw the release of Crude Oil inventories, showing a better-than-expected figure – but this did not have too much of an effect on the dollar. Another day and another speech from a Federal Reserve member, with confirmation that Fisher wanted the first interest rate hike in March, but there was not sufficient support for this from other members. Fisher also advised that inflation easing in the US should not push back a hike in interest rates as oil prices start to ‘normalise’.
We expect this quiet start to the week for the dollar to end with the release of Core Retail Sales figures (a weak figure for the US in recent times) along with the weekly unemployment claims data. Business Inventories is also released later in the afternoon, which is expected to remain flat.
