Currency Note US Dollar

US Dollar starts the week quietly

By Ricky Bean February 24th, 2015

In recent weeks, the general trend for the dollar is a quiet beginning of the week – and this Monday was no exception. The only release was Existing Home Sales, which was negative and fell to its lowest level since May 2014.

Today we can expect a busier day, with the releases of the Services Purchase Managers’ Index (PMI) and Consumer Confidence – which has been quite a strong figure as of late for the US. Also today, Federal Reserve Chair Yellen is due to testify on the Semi-annual Monetary Policy Report before the Senate Banking Committee; the focus here is expected to be on the question and answer session after the main report, with spotlight on a possible Interest rate hike or what thresholds need to be hit before it will happen.