Currency Note US Dollar

US Dollar has a “slow start” to the week

By Ricky Bean October 28th, 2014

We predict a big week for the US economy, with the dollar on a weaker footing in comparison to previous weeks – moving above 1.61 levels again –and there is still plenty of risk lying ahead, as the world economy continues to struggle. For the rest of the week, the US dollar will be affected by the Federal Reserve statement on Wednesday, where they are expected to announce the end of quantitative easing and a return to the more orthodox approach of an interest rate driven policy. But an interest rate hike does however seem months away, and this will still remain a crucial stepping stone for the American currency.

For the week ahead, today durable goods and consumer confidence data is due and on Thursday there are the growth figures for the third quarter released