After the news that the UK was leaving the EU was released on Friday morning, we saw the US dollar strengthen against both the euro and sterling. Data releases on Friday showed that Durable Goods orders had unfortunately fallen to its lowest level for four months. Consumer Sentiment also suggest a decrease in climate conditions.
Tuesday will see the release of the final Gross Domestic Product (GDP) figure which is also expected to increase, along with an increase in consumer confidence. Wednesday will see the release of Personal spending which is set to decrease along with Personal Income. Weekly unemployment on Thursday is set to post another stable figure and Friday will see the release of the ISM Manufacturing Purchase Managers’ Indices which is expected to show mild growth in the sector.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.