020 7898 0500It was a quiet day for US data on Friday, with the only release being the Flash Manufacturing Purchasing Managers’ Index (PMI), which showed growth in the sector but just under the expected figure. Movement throughout the day was seen to be driven by sterling.
On Tuesday we look forward to consumer confidence data, which is expected to show a sharp drop on the previous month. With durable goods orders on Wednesday expected to show contraction for the first time in two months we could potentially see some US dollar weakness in the first half of the week. On Thursday we can look forward to the final growth figure for the second quarter – which is expected to show growth on the previous estimate – as well as the weekly labour data, which is expected to post another stable figure. Later in the evening US Federal Reserve Chair Yellen speaks. Anything related to interest rates in her speech could have an effect on the US dollar. Personal spending and income data is due on Friday – both are expecting to indicate growth. Anything else could cause movement in US dollar markets.
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