USD staged a comeback in recent days on the back of improving housing data and surprisingly resilient core CPI out of the US. Fed chair Yellen indicated last Friday she expects lift off later this year while Fed’s Fisher and Mester stressed yesterday that the FOMC remains data dependent.
This week’s US data releases will attract considerable attention with potential positive/ negative surprises likely to have significant impact on the FX markets.
Indeed, for the USD-rally to accelerate from here, the upcoming US data should corroborate market expectations of ‘V-shaped’ real economic rebound after the disappointing Q1 growth (expected to be revised to -0.8% QoQ SAAR on Friday).
On the day, markets will focus on US durable goods orders and new home sales for April as well as consumer confidence for May.
With capex data extransportation disappointing and weaker consumer confidence weighing on retail sales of late, markets will be particularly responsive to evidence that US domestic demand is recovering again.
Ahead of the releases CA economists are looking for above consensus prints all round, which, if confirmed, should help USD regain more ground across the board.
This content has been provided under specific arrangement with eFXnews.
This week’s US data releases will attract considerable attention with potential positive/ negative surprises likely to have significant impact on the FX markets.
Indeed, for the USD-rally to accelerate from here, the upcoming US data should corroborate market expectations of ‘V-shaped’ real economic rebound after the disappointing Q1 growth (expected to be revised to -0.8% QoQ SAAR on Friday).
On the day, markets will focus on US durable goods orders and new home sales for April as well as consumer confidence for May.
With capex data extransportation disappointing and weaker consumer confidence weighing on retail sales of late, markets will be particularly responsive to evidence that US domestic demand is recovering again.
Ahead of the releases CA economists are looking for above consensus prints all round, which, if confirmed, should help USD regain more ground across the board.
This content has been provided under specific arrangement with eFXnews.
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