Currency Note US Dollar

US Dollar in the ascendancy

By Ricky Bean March 24th, 2014

The US dollar ended the week in muted fashion, but ultimately still finished stronger over the week as a whole. The US currency saw its biggest weekly gain in two months as continued optimism drove the currency upwards following the revelation that interest rates could be raised sooner than expected.

This week, events don’t begin until tomorrow, when we will get consumer confidence and the new home sales data from stateside. Wednesday sees data on core durable goods orders, while Thursday has a number of points of interest. The main one will be from the labour market, with unemployment claims figures to be released. Supporting this will mainly be the pending home sales figures, as well as a final growth figure. Lack of surprises on this front may mean a quiet week for the dollar.

Things quieten down on Friday, winding down the week. We will, however, see minor releases such as the University of Michigan’s consumer sentiment data and personal spending figures – these may have the opportunity to impact the dollar.

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