A decent week for the dollar against sterling and euro, will this week’s data releases support it further

The US dollar continued to strengthen against the pound as sterling came under yet more pressure given the closing in UK election poll results. Also the US dollar was supported by an upgrade in first quarter Gross Domestic Product figures which also saw it increase in value against the euro, with the EUR/USD finishing below €1.1200. This was despite poor durable goods data out from the US at 0.4%.

With the advent of June we begin to see a number of key US economic data releases for May this week with the most important day seemingly to be Friday although the data releases earlier in the week can be influential. On Friday we have average earnings, balance of trade figures and the highly influential and much scrutinized non-farm payroll figures.