The USD has regained its grip as traders quickly snapped up the green back on Friday after FED Fischer gave a more than expected bullish speech, which saw Yellens dovish comments outshone, prompting major players to increase their bets on a SEP hike, with the probability now at priced in at 36%.

With a slew of important data expected out of the US this week, most notably the all-important Non-Farm Payment figure (NFP), we expect to see volatility a plenty as markets constantly adjust their rate hike expectations with every and any pertinent news. Better than expected data out of the US will see the USD firming further as more and more market participants are convinced of a healing US economy. While, worse than expected data will lead to participants selling USD as the global economic recession continues to weigh on the US economy.

Kicking off the week for the US, we have the Core PCE Price Index m/m expected at 0.1% and the Personal spending data expected at 0.3%.

Today’s key economic data:

USD

  • Core PCE Price Index m/m expected at 0.1%
  • Personal Spending m/m expected at 0.3%

JPY

  • Household Spending expected at -1.3%

AUD

  • Building Approvals expected at 1.2%