On a quiet day for worldwide events, the US dollar managed to make steady gains against most of its major partners. This came despite a distinct lack of data, particularly from stateside, with no major releases to give investors any guidance. As such, it was the aftereffects of positive data on Tuesday, coupled with the longer term relative prospects for the US economy, which bolstered the dollar’s strength.
Today is a stark contrast in terms of activity, with a number of key releases to interest investors. Firstly, we will hear from two crucial areas, with preliminary growth figures and unemployment claims data due. Both are good indicators of the overall economic strength, and as such could be very influential in determining the currency’s performance. Later in the afternoon, there will also be pending home sales data to supplement these two figures, in what could be a busy day for the dollar.
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