020 7898 0500It has proved to be a quiet week so far for the US dollar in terms of data. With no major data releases on Monday (a bank holiday) and Tuesday, attention turned towards Wednesday with two members of the US Federal Reserve speaking. There was nothing of note mentioned, but the day also saw JOLTS job openings figures dropping further against expectations. The weekly unemployment claims figures on Thursday posted yet another stable figure, while import prices came out as expected.
Wednesdays release of the minutes of the last Federal reserve meeting highlighted a fairly balanced decision as to whether or not to increase US interest rates. In the end, as we know, they held firm but it has increased the likelihood of an increase in December.
Today we can look forward to a busy day, with retail sales figures due. A large increase and growth compared to the previous month are expected. Producer inflation data is expected to rise against last month’s static figure, while the consumer sentiment data is expected to post growth compared to the previous decline.
