Slow UK week leading to rate decision
The UK is facing a slow week for economic indicators while the business sector gears up for reporting season, but a series of key indicators will be released in the US.
In foreign exchange trading early on Monday, the dollar slipped to near two-month lows on the euro at $1.3184 and was valued at ¥120.87.
Confidence in the dollar was undermined by speculation that US existing home sales data due on Tuesday will show that the market continued to slump in January.
Also on Tuesday, February consumer confidence data is expected to show a slight decline, and durable goods orders are also expected to be down slightly.
On Wednesday in the UK, Nationwide is due to release housing market data, expected to show that the growth that has gripped the market has continued to run strong.
The report could be a key indicator of which way the Bank of England will lean on Thursday, when its monetary policy committee is expected to raise rates a quarter point.
Back in the US, domestic vehicle sales data will be published Thursday alongside personal income and consumption figures and manufacturing activity data.
Finally on Friday, consumer sentiment results for February will be released while Federal Reserve chair Ben Bernanke is due to address an economic conference.