The dollar continues to remain in a strong position against sterling and the euro as we saw another positive week for the US economy, with strong data across the board. One instance of this was the Philadelphia Federal Reserve Manufacturing Index, which was at 21-year highs.
This week we look forward to US growth figures – previously out at 2.3% – and durable goods data. The latter is expected to achieve a positive 0.2% compared to a negative reading of -0.2% last month. Any disappointing deviation from these expectations could undermine the US dollar. Thanksgiving is on Thursday so we should expect a quiet end to the week