Will this week’s data support the US dollar?

US dollar movement continued to be dictated by speculation surrounding the potential reduction of the Federal Reserve’s quantitative easing program in December. Friday saw the US dollar outperform the emerging market currencies amid increased speculation that we could well see a December taper. This week data from stateside is packed consistently throughout the first half of the week, kicking off today with the pending home sales. Tomorrow then brings building permits and consumer confidence figures, while Wednesday sees the core durable goods orders alongside the ever important weekly unemployment claims. Given some of the recent hints that the Federal Reserve may taper off their bond buying process at the next central bank meeting in December, results either way could help boost or quash these expectations. The US markets will be shut on Thursday in accordance to the Thanksgiving Day bank holiday and little data is due to be released on Friday. Call your trader for the latest US dollar rates.