Risk Aversion Plagues the Markets, But what about the Dollar?

Daily Update - 29th August 2017

Yesterday’s Focus

•             USD Dallas Fed Manufacturing Business Index

Yesterday’s Explained

Quiet day to start the week, with only Dallas Fed Manufacturing Business Index released from USA. This Survey obtains a timely assessment of the state's factory activity. Firms are asked by Federal Reserve Bank of Dallas whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. Survey responses are used to calculate an index for each indicator. Each index is calculated by subtracting the percentage of respondents reporting a decrease from the percentage reporting an increase.

Today’s Focus

•             EUR Gfk Consumer Confidence Survey

•             US Consumer Confidence

Today’s Market

Looking ahead to the stats for the day, there are no materials stats scheduled for release out of Europe through the rest of the European session, with economic data released this morning including German consumer sentiment figures, together with French 2nd quarter, 2nd estimate GDP and July consumer spending numbers.

The key number out of the U.S this afternoon will be August’s consumer confidence figure, Softer consumer confidence in August would be another blow to the Dollar ahead of a heavy second half of the week on the data front, with inflation, nonfarm payrolls and wage growth to name but a few of the stats the markets will need to slice and dice before the week is out, though one does need to begin asking how much further the Dollar can fall, with the U.S economy far from collapse.