It was a reasonably quiet morning for the US dollar on Friday, with no major data releases. However come the afternoon we saw the US currency weaken against majority of currencies losing just under two cents against sterling and one cent against the euro.
We can expect a busy week starting on Tuesday, with Core Retails Sales and Producer Inflation data both expected to fall into negative territory. Wednesday we can look forward to Consumer Price Index (CPI) figures. A measure of inflation, the CPI is expected to show contraction. This will be followed by the US Federal Reserve Interest Rate Decision later that evening. No change is expected but the markets will be looking very closely at what is said post the meeting so as to gauge the possible timing of when US interest rates will next be increased. June is very much the timing favoured by the markets.
With the bulk of major releases due out in the middle of the week, we finish the week off with Consumer Sentiment in the US, which is expected to post a better than the previous month figure. Various Federal Reserve members will also be speaking which has the potential to impact US dollar markets.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.