The dollar awaits a key speech from Federal Reserve Chair Jerome Powell later today. He’s expected to comment on the Fed’s interest rate target, as well as the overall outlook for the US economy.
Data released yesterday revealed that new orders for manufactured durable goods rose by 11.2% in July 2020, recovering further from sharp falls seen in March and April during and easily beating market expectations of 4.3%. However, new orders for key U.S.-made capital goods slowed in July, suggesting the rebound in business investment is possibly becoming more gradual.
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