The US dollar ended the week with a quiet day in terms of data. Import prices showed a slight decline – a continuous theme for this figure so far this year. US Federal Reserve member Lacker spoke, outlining that he still believes the US Federal Reserve should consider raising rates in June. He suggested that the recently released Federal Reserve minutes showed that the majority of members were in support of a June interest rate rise.
This week for the US dollar begins with important retail sales figures, expected to show a significant increase on the previous month. Producer inflation follows, and this is also expected to show a slight increase as the US tries to recover from the recent slowdown from the oil price slump. Industrial production is due on Wednesday, along with crude oil inventories; this is expected to show a small decline indicating the recent slowdown in the US economy.
Thursday will see the beginning of the G20 meeting, attended by finance ministers and central bankers from 20 industrialised nations, including the US. Markets may react to this as reports feed through all day. Weekly unemployment claims are expected to show a small increase on the previous week, with three US Federal Reserve members speaking – and a spotlight on their feelings about the pending interest rate change. Friday will see the continuation of the G20 meeting, and the consumer inflation is due; this is expected to show no movement.