Yesterday was a relatively quiet day for the US Dollar, as investors waited for the release of the US Federal Reserve meeting minutes. Building Permits in the US came out as expected, showing moderate growth, but this did not have much of an impact on the market as the waiting continued. The actual minutes were slightly more ambiguous than expected re. a December increase in US interest rates so we have seen a small amount of US dollar weakness subsequent to their release.
Following yesterday’s meeting minutes, we can look forward to two Federal Reserve members speaking – but they are expected to be for a interest rate increase. In terms of data, the weekly labour data will be released; this is forecast to be yet another stable figure.