U.S. dollar recovers upon improved data

Weekly synopsis

The U.S. dollar performed a tremendous recovery due to the better political data in place. Is this an indication of a change of trend or is it just a short-term recovery?

FED's decision will influence the dollar

The majority of the traders and the investors wait for the Federal Reserve's decision on interest rates.

The euro, the Japanese yen, and the commodity currencies were the big losers last week. The latest storm still creates fear and geopolitical turbulence.

Weekly major events

On Monday, BOE's Governor Carney and BoC Gov Council Member Lane will be giving speeches.

On Tuesday, the RBA Meeting's Minutes are to be released, the U.S. will be publishing its Building Permits Change, Housing Starts, the euro zone is to publish its Construction Output and Economic Sentiment data, and Japan its Imports, Exports, and Merchandise Trade Balance figures.

On Wednesday, Germany is to release its Producer Price Index, the ECB will be holding a meeting on non-monetary policy, the U.K will be releasing its Retail Sales data, and the FOMC is to publish its Economic Projections and holding a Press Conference.

On Thursday, the BoJ will be publishing its Interest Rate Decision, Monetary Policy Statement, All Industry Activity Index as well as holding a Press Conference. ECB President Draghi is to give a speech.

On Friday, Germany and the euro zone are to announce their Markit PMI Composite, Manufacturing and Services data, whereas ECB President Draghi will be giving again a speech. Canada is to release its Consumer Price Index figures.

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