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USD: Dollar still up as debt ceiling talks go to wire

It’s been a strong week for the US dollar, powered by hopes of a breakthrough in ongoing debt-ceiling talks that have seen it strengthen by over 2% against the Australian and New Zealand dollars and 0.5% to 1.5% against its other main currency rivals.

Those debt ceiling talks need to be concluded by 1st June (Thursday) to avoid a US debt default.

Data so far this week has been a little on the quiet side, but this afternoon we’ll hear about personal spending in the US and the Core PCE price index. Next week, being the first of the month, is a busy one for data but we’ll need to wait for Wednesday and Friday for the big news on jobs, with JOLTS job openings and Non-Farm Payrolls respectively.

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