The US dollar had a positive day on Friday, thanks to the long -term outlook over interest rate rises and the approaching end of quantitative easing. Despite a lack of data, the dollar strengthened against the majority of its major partners, setting itself up for the longest run of gains since 1967. With continued reaction to the Federal Reserve raising their funds estimate for the end of 2015, and the indication that when rates start to rise they should expect to do so steadily towards 3% by the end of 2016, the dollar closed out a tenth consecutive week of gains.
This week will look to continue this trend, starting slowly, though, with just existing home sales due alongside words from one member of the Federal Open Market Committee (FOMC). Tomorrow sees no data from stateside, although two more members will be speaking, before mid-week brings the new home sales figure. Thursday looks set to be the day of highest importance, with both the core durable goods orders and the unemployment claims due. With the Federal Reserve’s view that interest rate rises will be data led, these will be of particular importance, before some mildly important consumer sentiment closes out the week.