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Posted January 20th, 2014 by Charles Purdy

Martin Luther King Day sees US markets quiet, but for how long?

The US dollar had a largely positive day to round off last week, thanks mostly to its December home construction data, which showed less of a decline than expected, making 2013 the industry’s best year for quite a while. This resulted in the US dollar making gains against most of its major partners, save for a drop against a strong sterling. These gains were curtailed a little later in the day as consumer sentiment data missed its predicted level, but the currency ended up stronger against most currencies for the day.

This week starts with a bank holiday stateside for Martin Luther King Day, with major data not forthcoming until Thursday’s unemployment claims, some labour data of continuing importance, and existing home sales data. Friday will be quiet on the data front, signalling a slow end to a slow week.

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