Currency Note US Dollar

US Dollar in the ascendancy but for how long?

By Smart Currency July 28th, 2014

The US dollar had a largely positive day on Friday, making gains against the majority of its partners to close out a successful week. A final push of positivity came thanks to the core durable goods orders figure. On release, this showed a bigger increase than expected, adding to beliefs that the US economy is outperforming many of its peers.

This week’s data starts immediately, with pending home sales figures due this afternoon. Tomorrow sees the consumer confidence figure released, and Wednesday brings a multitude of significant events. As ever, the independent non-farm employment change will be of interest as a precursor to the official figure, while growth figures will provide a good overview of the economy as a whole. Then late in the day UK time on Wednesday, the US Federal Reserve will release their latest statement, which investors will comb over for clues as to the central bank’s long-term plans. Thursday continues the labour trend with data on unemployment claims, ahead of non-farm employment change and overall unemployment rate data come on Friday. A manufacturing Purchasing Managers Index will close out a busy start to the month.