It was a quiet day for data releases in the US, with only Flash Manufacturing Purchase Managers’ Indices (PMI) released. This figure showed a slight drop on last month, but still showing a slither of growth in the sector. We also saw US Federal Reserve Member Williams speak, who reiterated that a rate hike is still data dependant but 2-3 hikes in 2016 and 3-4 in 2017 sounds most likely. This gave the US dollar some strength during the day.
Similar story is expected today, with only the New Home Sales figures to be released. This is forecast to show an increase on the previous month, reaching a four month high.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.