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Currency Analyst since 2010

USD: data impact this week

Although the new Fed’s Chairwoman Janet Yellen made it clear that the Fed’s going to continue reducing its asset purchase program. However, the recent weak economic data (NFP, retail sales, industrial production) made investors think that the regulator might consider slower speed of QE tapering.

His week the housing (NAHB Housing Market Index, Building Permits, Housing Starts, Existing Home Sales), inflation (PPI, CPI) and manufacturing data (Empire State Manufacturing Index, Flash Manufacturing PMI, Philly Fed Manufacturing Index). Once again there’s the risk of lower figures as releases will be for January and February when America was affected by bad weather. This may have a negative impact on USD. At the same, the greenback might be supported by the Fed’s January meeting minutes due on Wednesday as the central bank might justify its last month’s decision to cut QE.

There will also be a stream of data from the euro area (German ZEW Economic Sentiment, flash PMIs), the UK (CPI, unemployment, MPC meeting minutes, retail sales) and Japan (the BOJ meeting, Trade Balance, Monetary Policy Meeting Minutes), so there’s a considerable risk that one of this factors will move USD crosses as well.

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