020 7898 0500The US dollar finished last week on a more positive note, making gains against the majority of its most traded partners. Despite little data to drive these movements, the dollar managed to regain the previously lost ground, which came on the back of the US Federal Reserve meeting minutes which highlighted their concerns over the world economy and their reluctance to raise interest rates too soon.
This week starts quietly today stateside, with US markets closed for Columbus day. Tomorrow is almost as quiet in its wake, with investors having to wait until Wednesday for any major releases from the country. Here we will see retail sales data, as well as the Producer Price Index (PPI) for a measure of inflation. Further smaller releases including the Beige Book could give further clues as to interest rate rise potential, as investors look for more support in this area. Thursday returns the spotlight to the ever-important labour market, as the unemployment claims figure is due, before the manufacturing index from the Philadelphia Federal Reserve is released, which is also liable to impact markets. Friday keeps up the action moving in to the weekend, in terms of building permits and consumer sentiment data. In addition to this, Federal Reserve Chair Janet Yellen is also due to speak. Her words are sure to be closely scrutinised, as interest rates continue to dominate investors’ thoughts.
