020 7898 0500It was another quiet day for the US dollar on Friday; the only major data release was Consumer Sentiment figures, which came in just above expectation. Once again movement for the currency that day was mostly dictated by sterling.
We can expect the US dollar to dominate the markets in the second half of this week. Tuesday will see the release of Retail Sales figures, which are expected to show mild growth, although at a slightly lower rate than in the previous month. We will also see the release of Producer inflation figures on Tuesday, which are also expected to show a small increase on May’s figures. Industrial Production is expected to show contraction for the first time in 2 months.
Investors will be looking forward to Wednesday evening, however, when we will see the release of the US Federal Reserve Interest Rate decision and statement. Expectation is that the Federal Reserve will not raise Interest Rates thanks to the recent slowdown in the Non-Farm Employment Change. Thursday will see the release of Consumer Inflation figure, and this is expected to show a slight slowdown compared to the previous month – as well as the weekly unemployment claims figures, expected to have a positive result.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
