USD: Dollar shrugs off poor GDP as Fed decision looms

Despite the disappointing GDP data yesterday, the greenback had a mixed day with only small losses and gains.

With no public holiday in the US on Monday, there will be data on Manufacturing PMI from both ISM and S&P Global.

Most of the big data and market-moving events happen in the early part of the month in the US, so watch out next week for JOLTS Job Openings on Tuesday, Non-Farm Payrolls on Friday and, most of all, the Fed’s interest rate decision on Wednesday. Will the rate-setting panel (the FOMC) be swayed by this week’s GDP?

For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 3918 7255 or your Private Client trader on 020 7898 0541.

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