The focus yesterday was on the US Federal Reserve interest rate decision and press release. Prior to this, however, we saw Producer Price Index – increase to an 11-month high, boosting positivity that consumer inflation figures could possibly follow suit. Industrial production, however, fell to its lowest level for 2 months showing contraction. The Federal Reserve decided to hold interest rates citing worries over employment and worries over the outcome of the UK’s vote on its EU membership.
Today we can look forward to the Consumer Price Index (CPI) figures from the US. These are expected to show a slight decrease from the previous month. Following this we have the weekly unemployment claims, where we expect a stable figure. Any changes could, as always, move US dollar markets.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.