The dollar has weakened slightly against the euro this morning as markets wait for the Federal Reserve’s Jackson Hole Symposium tomorrow.
The greenback does, however, appear to be benefitting from the positive progress made by Congress around a $3.5 trillion infrastructure bill. The bill would boost the economy and, potentially, cause inflation, something that the Fed would have to consider in its monetary policy.
Durable goods orders fell in July, by 0.1%, after previously increasing in June. This dip is thought to have been caused by a decline in aircraft orders, as, if you ignore transportation, goods orders were actually up by 0.7%.
Later today, we will see both GDP and employment data for the US.
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