020 7898 0500The US dollar had a mixed day yesterday, with varying results coming thanks to both internal and external forces. The only piece of data from the US was the mildly influential job openings figure. This came out ahead of expectations, and as a result added some strength to the currency as it is supportive of increased interest rates. This, coupled with a weak euro, allowed the US currency to get close to its recent nine-year high against the multi-nation currency. However sterling strength left the dollar little changed over the day against sterling.
Today holds a number of key events for the US dollar in terms of data, with the most significant likely to be the retail sales figures. These can give further encouragement that the economy is strong, which could fuel speculation further. This could also be supported by some smaller pieces of data, including the import prices. Overall, investors will be watching all data releases keenly over the coming weeks, as they await any potential movement from the US Federal Reserve over interest rates.
