US Dollar keeps its footing ahead of mid-tier data releases. Economists at ING believe that we could still see at least some support coming the greenback’s way as US data for January should prove strong.

Still eyes on data

“We think data will remain the key driver for the Dollar and the global risk environment, as the depth of the US economic slowdown is still a key driver of rate expectations, especially when it comes to the timing, size and pace of Fed easing in the medium term.”

“We think that January’s US data may come in rather strong throughout on the back of weather-related factors and this may keep short-term US rates and the Dollar supported in the near term.”

“Today, we’ll keep a close eye on retail sales data, industrial production and empire manufacturing, which should all improve.” 

See – US Retail Sales Preview: Forecasts from seven major banks, noticeable increase