Tuesday was a mixed bag for the US dollar, as positive data releases failed to show continued strength against the euro and Sterling. Inflation figures showed an increase and positive figure for the first time since September 2014, plus the Core figure came out above expectations. The Manufacturing Purchase Manager’s Index (PMI) was released later in the day and showed consecutive growth in the Manufacturing sector, along with improved New Home Sales. Federal Reserve Member Williams also reiterated that it is appropriate to discuss raising Interest Rates by mid-year.
Another Federal Reserve Member, Evans speaks this morning, with a focus on his feelings surrounding a potential Interest Rate rise. Durable Goods data is released, and is expected to show growth along with slowing Crude Oil Inventories.