Currency Note US Dollar

US dollar has positive start to week | 13/08/2013

By Ricky Bean August 13th, 2013

The US dollar started the week stronger, gaining ground against most of its major partners, despite no actual relevant data of note being released yesterday. The currency strengthened ahead of data due to be released today, with investors expecting retail sales from the country to show growth for the fourth month in a row. If this does come out in line with expectations, it should provide further support for the Federal Reserve to action their tapering program soon, which will in turn aid the performance of the dollar. Today’s previously mentioned retail sales data is just the start for a week loaded with important data for the US dollar, to be followed in the coming days by both producer and consumer price indices, amongst others. With such a variety of results due out, we could see more volatility for the currency. Call your trader today to see how today’s releases are affecting the price of the US dollar.