The US dollar finished off last week on a downward trajectory, thanks to the bleaker outlook laid out by the US Federal Reserve. Chairperson Janet Yellen quashed hopes of an early interest rise, as she said she had a continuing commitment to support the recovery while not seeing any signs of inflation.
The Bank Holidays contribute to another truncated week, which starts with existing home sales figures from stateside. Tomorrow sees the companion figure to this, with new home sales figures, alongside data of lesser significance in the form of a manufacturing Purchasing Managers’ Index. The flow of data releases continues on Thursday, with the core durable goods orders due alongside the ever-important unemployment claims results. This is the last major event for the dollar for the week, with Friday being more subdued on the release front.
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