The US dollar was seen pulling back from a 31-month low. The US dollar index fell to 91.54 yesterday as reports about the missile test from North Korea rattled the markets. However, the markets recovered later on with the greenback closing with modest gains.
On the economic front, the conference board’s consumer confidence report rose to 122.9, beating estimates of 120.9, although the previous month’s report was revised down to 120.0. The U.S. housing price index was also seen rising at the same pace as the previous month at a rate of 5.7% on the month.
Looking ahead, the economic calendar starts to gain pace. The US private payrolls data will be coming out today with forecasts showing that private sector hiring rose 186k in August. This is above July’s print of 178k. Later, the second revised estimates for the quarterly GDP data is expected to show that the US economy expanded 2.7% in the quarter ending June.
