It was an extremely quiet day in America yesterday, with the Italian budget row and lack of progress in the Brexit negotiations dominating the headlines. However, despite the lack of economic data, the dollar made some healthy gains against both sterling and the euro. The dollar has enjoyed an extended period of gains recently and only slid towards the end of last week as traders indulged in a profit-taking move.
It is fairly quiet today too, but on Wednesday we will see a raft of purchasing managers’ indices, as well as new home sales for September. The highlight of the week will be the GDP growth rate for the third quarter of 2018, set for release on Friday. Analysts are expecting growth of 3.3% this time around, down from 4.2% in the previous quarter, but still extremely positive.
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