Currency Note US Dollar

Will todays inflation and home sales data support the dollar

By Ricky Bean July 22nd, 2014

The US dollar had a subdued start to the week, with no significant movements of note against its major partners. The currency managed to make slight gains against both sterling and the euro, as little data was released from both the US and the wider areas. As such, investors were tentative as they looked ahead to today’s data points.

First up from these is the inflation data from the Consumer Price Index. Investors will be keen on these figures given that they give a broad overview of the state of the economy – they also carry influence as to when the US Federal Reserve will raise their interest rates. Following on from this are the house price index and existing home sales data, which could help to support the dollar should the results be a positive one.