The US dollar had a disappointing end to the week, notably reaching a 5 year low against a strong sterling. Fridays US data failed to stem the losses, as both major pieces fell short of expectations. The Producers’ Price Index (PPI) was the first, showing an unexpected decrease. Following this, the Consumer Sentiment from the University of Michigan was also lower than anticipated.
This week again starts without major event. A few smaller pieces of data today include the Empire State Manufacturing Index, and some industrial production figures, before some more influential releases tomorrow. The core inflation figure will be the most noteworthy figure, due alongside the building permits. Wednesday is set to be the most significant day in terms of data releases, with the latest Federal Open Market Committee meeting taking place. As ever, investors will be keen to hear the Committee’s latest views and plans, particularly in terms of long term prospects. Thursday continues in strong fashion, with an ever-important unemployment claims figure, along with manufacturing index from the Philadelphia Federal Reserve. These are the final events for the week, as Friday closes out quietly.