020 7898 0500It was another decent day for the dollar, strengthening as it did against the euro. This was more because of data from the eurozone than anything else, but durable goods orders from the US did beat forecast. Initial jobless claims came in much better than expected, at 209,000 from a forecast of 230,000 and, remarkably, it is the lowest figure since December 1969.
Today’s key release is the GDP growth rate for the first quarter of 2018 which is expected to fall from 2.9% in the fourth quarter of 2018 to 2% since the turn of the year. Could we see further dollar strengthening following the release? It has been a good few days for the dollar, which has retraced a lot of its earlier losses. The greenback is on a roll but how long will it continue?
We will also see the University of Michigan’s final consumer sentiment reading for April.
