The dollar weakened yesterday after news that a phone call between US and Chinese officials has provided optimism over the phase one trade deal. Negotiators from both sides said that they are still committed to the deal, causing sentiment to improve and the dollar to slip as a result.
Today, durable goods orders data will be released. The figure is expected to show a 4.3% rise for July, however, any surprises could impact the dollar.
A speech from Federal Reserve Chairman, Jerome Powell, is the main focus for this week. He’ll speak on Thursday and the markets will be looking out for any signs that the Fed intends to move their inflation target, which would allow the inflation rate to rise higher.
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