020 7898 0500It was a relatively quiet day for the dollar yesterday as it experienced minimal movement against most major currencies. We have heard of possible changes to in leadership at the Federal Reserve and Donald Trump’s comments on Monday suggest he is very close to a decision. Current Chair Janet Yellen is due to finish her tenure in February, but as she is a nominee there is a chance she could be chosen again.
Looking to the day ahead, the main data piece is on September’s durable goods. It is forecast to fall 1% from the previous month. Having said that, it’s unlikely we’ll see a huge shift in the dollar should this prove to be the case.
We’re more likely to see political drivers move the market. Perhaps Donald Trump will make his Fed announcement and, if so, whether they are seen as hawkish or dovish could influence the greenback.
