Buys day for dollar eyes on gains on economic data

The USD maintains relatively lively in the wake of Fed Chair Yellen's comments on Friday that a rate hike this year still seems appropriate. On the flip side, EUR looks dull amid prolonged Greek negotiations.

Busy day for USD: Among the numerous distinguished US data points this week the second reading on Q1 GDP on Friday is the highlight. Today's data releases cover much of the economy including manufacturing, consumer spending and housing.

Consumer confidence: The Conference Board consumer confidence survey will be watched closely as household spending is seen as a key driver of economic growth this year. Other indicators suggest that consumer confidence has declined in May possibly due to higher petrol prices. The forecast is at 95 while previously printed 95.2.

US Core Durable Goods Orders MoM: The forecast is at 0.5% while previously printed at 0.3% as recorded by the US census bureau.  The durables goods orders and the Richmond & Dallas surveys will provide further evidence of the impact of the strong dollar on manufacturing.

US Durable Goods Orders MoM: The forecast is at -0.4% while previously printed at 4.7% as recorded by the US census bureau.

US HPI MoM: The housing price index in US was increased 0.7% in February of 2015 over the previous month. The current forecast is at 0.7% as the new home sales fell sharply in March, there have been signs of the market picking up this year until that point and we expect a strong rebound in April.

US Markit Service & Composite PMI: Both composite and service PMI scheduled to be released today. Services PMI in the United States decreased to 57.4 index points in April of 2015 from 59.20 index points in March of 2015 while Composite PMI in the US decreased to 57.0 index points in April of 2015 from 59.2 index points in March of 2015. Forecast for service PMI remains at 57.0.

NASDAQ reports surge in FX volumes in Q1: Volume of binary options and spread contracts traded on the exchange surged by 38% in the first quarter of 2015.

Among the pool of various instruments, the most heavily traded contracts were the S&P 500 Index futures and the EUR/USD.

As on 25^th May 26, 2015, OI (Open Interest) on the clearings of IRS (interest Rate Swaps) is seen at $ 17,111.713 bln.