The US dollar finished off last week in subdued fashion, with no significant movements as events were limited. The only slight point of interest was the revised Consumer Sentiment from the University of Michigan. This figure came out ahead of expectations to give the dollar a little light at the end of a mixed week, but was ultimately little changed on the day.
This week’s influential data starts today with pending home sales, following on from last week’s home sales data. Tomorrow’s main release is the consumer confidence figure from the Conference Board, prior to Wednesday’s barrage of figures. On this day, we will hear about the ever-important independent non-farm employment change data, ahead of the official figure. Alongside this is the advance growth figure for the quarter, a strong indicator of all-round economic health, while the evening brings a US Federal Reserve meeting. Given the recent murmurs surrounding interest rate hikes, investors will be keen for any potentially relevant clues in the subsequent statements. Thursday follows this with words from Federal Reserve Chair Janet Yellen, supported by more labour data in the form of unemployment claims. Finally, Friday brings an unemployment rate and official non-farm employment change figures, which always provide opportunity for impact.
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