Currency Note US Dollar

US Dollar gains reversing losing streak

By Smart Currency June 25th, 2014

Yesterday was a more positive day for the dollar, reversing the recent downward trend and ending the day with gains against most of its major partners. This was heavily affected by better than anticipated data from the housing market. It is thought that this will have a similar effect on consumer confidence.

Today provides further cause for dollar movements, thanks to a number of expected announcements. The core durable goods orders will be released first, followed swiftly by the final growth figures for the first quarter of 2014. This is quite a significant release as it shows the overall growth of the country’s economy, and so investors will be keen to see its reflection of the country and its currency. Strong figures could continue to reverse the trend, although the expected lower figures could see the downward trajectory return.