The pound hit from economic and political developments while the greenback gained strong momentum the last days from the robust economic data. Euro is calm, expecting Eurozone’s GDP later today, while AUD/USD and USD/CAD have been on a run yesterday meeting our targets.
U.S. Dollar Strength Returned Ahead of FOMC Minutes
The U.S. dollar had a strong come back this week, rising sharply against the majors ahead of the FOMC minutes. The U.S. retail sales printed the best figure since December pushing the greenback higher. The indicator showed an increase to 0.6% in July, the biggest in seven months versus market expectations of 0.4% and the upwardly revised June’s figure to 0.3% from -0.2% before. National Association of Home Builders released its housing market index, which edged higher than had been anticipated. The index that represents home sales and expected home buildings in the future rose to 68 from 65 before, showing that construction sector is progressing well.
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