The dollar had an up and down sort of day against the euro yesterday, but at least 1% below where it was this time last week. It traded sideways against the pound.
A variety of data will be released today, but ones to watch include housing starts and building permits for September.
In August, housing starts jumped unexpectedly by 12.2% m-o-m to an annualised rate of 1.575m units. This beat market expectations of 1.445m units and was the largest increase since March 2021. Although housing starts made a recovery in August, the housing sector is still under pressure due to increased material prices and soaring mortgage rates.
