020 7898 0500The Greenback made gains across the board and even managed to shrug off positive data out of Germany.
US economic data was actually disappointing. Activity in the US services sector fell unexpectedly in December. Whilst the reading was still in positive territory, it showed that the pace of expansion had slowed which, in turn, impacted economic growth expectations. The services sector forms approximately 80% of the US economy, making this figure a major signpost for interpreting growth.
There’s not much on the cards in terms of economic releases today. The key reading this week is the final third quarter GDP figure on Wednesday. It’s expected to show an upward revision of 0.1% to a healthy level of 3.3%.
