With sterling driving movement in the currency markets, investors were looking forward to some hopeful news of US dollar movement yesterday, with US Consumer Confidence figures due. These figures were expected to show a slight decline on the previous month, but showed stability instead – encouraging for the US economy. New Home Sales figures were also encouraging, with a high of two months, prompting the US dollar to strengthen against the euro.
We can look forward to further US dollar movement today, with Durable Goods Orders expecting an increase on the previous month, as well as the US Federal Reserve’s interest rate decision. While the central bank is expected to keep rates on hold, it will be the subsequent statement that investors will be looking towards for some insight as to when an interest rate hike might happen.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.