020 7898 0500The US dollar lost some ground against the majority of its major trading partners as investors saw global tensions ease, meaning there was less demand for so-called “safe-haven” assets. On Friday we also saw the release of Consumer Sentiment figures that came out lower than anticipated with a reading of 95.3 vs. 98.1 expected which didn’t help the US dollar’s performance.
One of the members of the US central bank is speaking today, which could provide some colour to what is an otherwise quiet day.
The main focus will come on Wednesday evening when we will have the release of the US central bank’s meeting minutes. The US is widely expected to raise rates again in September, but the meeting in December is much less clear so investors will hope the minutes may provide some guidance as to what course of action the central bank is likely to take.
On Friday, the Chair of the US central bank will then be speaking at the Jackson Hole Symposium. As with the meeting minutes released on Friday, any comments about monetary policy will be watched closely.
Data wise, we have Crude Oil Inventories out on Wednesday and then Core Durable Goods Orders released on Friday, which will give an indication of recent business spending.
