This week there will be a full flurry of data coming from the United States which should create for some volatile trading on the markets. Today there will be Durable Goods orders (expected at 13:30) which provides an indication into the sales of white goods and vehicles, a high reading from this is considered positive as consumers are parting with their cash.

Jerome Powell who is the new Federal Reserve Chairman will deliver a speech at 13:30 today after he has just surpassed 20 days in the job. Powell could use this opportunity now that he has settled into the role to really set out his plan and potentially provide his insight into a turbulent stock market and US Dollar. Interest rate hikes in the US are still the main talking point with at least three rises forecast throughout the year with some even floating four hikes potentially taking place.

Tomorrow the latest Gross Domestic Product (GDP) along with Personal Consumption data will be released (both at 13:30). GDP is forecasted to be 0.1% lower than this time last year, which could be a cause for concern, however the Personal Consumption figure is expected to be up over half a percent from the year before. Jerome Powell will also deliver another speech at 15:00 tomorrow afternoon so expect plenty of interest in his two speeches this week.

The last major data release for the US will come on Thursday with the Institute of Supply Management PMI and Prices Paid data. This provides insight into business conditions across the US and both readings are expected to be good.

All of the data this week will provide some further insights into the US interest rate decision as good economic performance could provide the confidence for the Federal Reserve to raise the rates.

The US Dollar has been slowly strengthening in the last few months and over the next few weeks this trend could certainly be set to continue.