020 7898 0500The dollar just about held its own yesterday following the news that the US government shutdown had ended. Funding has been agreed until 8 February which might result in a little more stability than has been the case of late, but with the European Central Bank press conference on Thursday and the US immigration bill still to be put to the Senate floor there is still room for volatility.
After a pretty quiet start to the week in terms of economic data releases, today picks up with mortgage applications up to 19 January, existing home sales for December, and a raft of PMI readings (composite, manufacturing and services to be exact).
The highlight will be the GDP growth rate for the fourth quarter of 2017 which is released on Friday. That will give us a real indication of how the US economy performed towards the end of last year.
