The US dollar had a mostly positive end to last week, thanks to some encouragement by the US Federal Reserve Chair Janet Yellen. In a speech at the Jackson Hole Symposium, Ms Yellen’s address paid particular attention to the labour market. She made note of the past five years’ gains, throughout the economic recovery, while also maintaining some slack at present. As a result, the dollar rose to an 11-month high against the euro.
Yesterday saw the new home sales released from the US, while today continues events with both the core durable goods orders and the consumer confidence by the Conference Board. Mid-week is a quieter affair, before Thursday reignites investors’ interests with a number of key releases. Growth figures from the country come from the preliminary growth figure, as well as ever-important labour market data in the form of the unemployment claims. Following this is then the pending home sales, before Friday closes out the week at a slower pace. No hugely significant events are scheduled, but some smaller events could combine to provide cause for movement.