The US dollar ended last week with a continuation of its recent slump, but did manage to end the day higher than it started thanks to a drifting sterling. This extended decline of the dollar was thanks to run of negative sentiment emanating from the US, most notably the growth figures for the country which showed a surprise decline of 2.9% especially when the provisional figures had shown a growth 0f 0.1%!. As a result, the dollar lost ground against many, with three consecutive days of losses against the yen.
This week, the US will start to look for more positivity from this afternoon, with the pending home sales being the first data release of many. Tomorrow holds the Purchasing Managers’ Index figures from the manufacturing sector, before Wednesday brings the first of the monthly labour figures. This comes in the shape of the independent version of the non-farm employment change, ahead of words from Chairwoman of the Federal Reserve Janet Yellen. Thursday is expected to be a busy one, with four highly influential pieces due simultaneously. The official non-farm employment change, an ever important figure, comes alongside further labour figures in the unemployment claims and unemployment rate, as well as the trade balance. Later that afternoon is the non-manufacturing PMI, before Friday closes a truncated week with nothing, as a bank holiday for Independence Day ends the week.