The US dollar had a slightly mixed end to the week, as the US again took a backseat to other currencies ‘movements. There were two data releases of lesser significance from the States, but both the manufacturing Purchasing Managers’ Index (PMI) and the existing home sales data came in slightly behind expectations. However, the dollar did manage to make gains in most areas, notably reaching an 11-year high against a turbulent euro. A strong performance from sterling saw the dollar lose out in this market.
With nothing due today, investors must wait until tomorrow for the first data activity from the US. This starts with the durable goods orders figures, and will be followed by consumer confidence data, and new home sales results on a busy day. Mid-week brings the most significant event for the long term, with the latest rate decision due, along with its accompanying statement. While no change is expected yet, any hints as to future plans are sure to be closely scrutinised. Thursday then moves to the labour market for the regular unemployment claims figure, before Friday rounds off with multiple points. The most significant will be the advance grow figure, showing a good overall growth figure for the economy. This will be supported by the Chicago PMI, and consumer sentiment data from the University of Michigan.