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Posted March 14th, 2016 by Charles Purdy

US interest rate decision – no change likely

It was a reasonably quiet morning for the US dollar on Friday, with no major data releases. However come the afternoon we saw the US currency weaken against majority of currencies losing just under two cents against sterling and one cent against the euro.

We can expect a busy week starting on Tuesday, with Core Retails Sales and Producer Inflation data both expected to fall into negative territory. Wednesday we can look forward to Consumer Price Index (CPI) figures. A measure of inflation, the CPI is expected to show contraction. This will be followed by the US Federal Reserve Interest Rate Decision later that evening. No change is expected but the markets will be looking very closely at what is said post the meeting so as to gauge the possible timing of when US interest rates will next be increased. June is very much the timing favoured by the markets.

With the bulk of major releases due out in the middle of the week, we finish the week off with Consumer Sentiment in the US, which is expected to post a better than the previous month figure. Various Federal Reserve members will also be speaking which has the potential to impact US dollar markets.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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Posted March 11th, 2016 by Charles Purdy

UK exporters look to US import price data

It has been a quiet week for US data releases, with minimal major data released. On Thursday we saw the weekly unemployment claims drop further; other than that, most of this week’s movements have been dictated by both sterling and the euro.

Today, we will have the release of the import price data, which is expected to post disappointing figures yet again. This could contribute to the US’s worsening economic outlook, but any welcome surprises could help give the US dollar a boost.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted March 10th, 2016 by Charles Purdy

US dollar continues to be dependent on events elsewhere

It was another quiet day for the US dollar in terms of data releases, which seems to be the theme so far this week. This hasn’t stopped movement in US dollar markets, though, which was dictated by euro, sterling and oil price activity throughout the day on Wednesday.

Today we can expect much of the same, with the only major release being weekly labour data, which is expected to post another stable figure. Any surprises could result in related dollar movement; otherwise, dollar strength is likely to be dependent on events elsewhere.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted March 9th, 2016 by Charles Purdy

US looking at EU

It continued to be a quiet day for the US dollar on Tuesday, with no major data releases due. Movement seen on Tuesday was mainly driven by continued sterling pressure and uncertainty leading up to the European Central Bank (ECB) meeting on Thursday.

We can expect a similar story today, with only Crude Oil Inventories due to be released, and expected to post stable reserves for the United States. This is a very quiet data week for the US.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted March 8th, 2016 by Charles Purdy

US dollar dependent on events abroad

It was a quiet Monday for the US dollar, with no key data releases due. We did see the US dollar weaken slightly against sterling as the panic regarding the UK referendum subsided for the time being. With no key data releases due out today either, the US currency will depend on events elsewhere to drive its performance. Investors will be looking towards the end of the week for US-focused data, with weekly unemployment claims figures and import prices due.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted March 7th, 2016 by Charles Purdy

US dollar at mercy of events elsewhere this week

It was a busy day for the US Dollar on Friday, with both the non-farm employment change and average hourly earnings data released. The Non-Farm Employment change was much better than expected, posting its biggest increase in two months, but US Dollar strength was soon countered as average hourly earnings contracted for the first time since January 2015.

We can expect a fairly quiet week for the US Dollar, with minimal data releases. On Monday we can expect a couple of the US Federal Reserve members speaking, where anything regarding a potential interest rate rise may have an impact in the market. Other than that, we can look forward to Thursday’s weekly unemployment claims data – which is expected to post another stable figure – and import price data on Friday, which is expecting to show further contraction. Investors will be looking elsewhere for factors that could affect US dollar movement.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted March 4th, 2016 by Charles Purdy

Mixed week for US dollar as outlook uncertain

It has been a fairly mixed week for the US dollar as movement continues to be dictated by the UK’s EU Referendum later in the year. The week started well for the US, with the ISM Manufacturing Purchasing Managers’ Indices and Construction Spending data released on Tuesday, both with better-than-expected figures. These were followed by the ADP Non-Farm Employment Change (which is used as an indicator for the key employments release on Friday), which posted another stable figure. The outlook soon turned gloomy, though, as Thursday showed a slight increase against expectations in the weekly labour data, final Services PMI data continued to show contraction, and factory orders grew less than what was expected.

The spotlight for this week is on today’s Non-Farm Employment Change figures, which is expected to post growth on last month’s disappointing release. But Average Hourly Earnings are expected to show a slowdown in growth. Expect movement in all key currencies following this release.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted March 3rd, 2016 by Charles Purdy

A quiet day for data in the US

It was a quiet day in terms of data for the US, with only the release of Automatic Data Processing (ADP) Non-Farm Employment change, which is used as an indication for the main data release on Friday. This figure showed an increase, so investors will be keeping a keen eye out for the outcome of Friday’s main release, especially with an increase in both Personal Income and Personal Spending figures last week.

We can expect more data releases today, with the weekly labour data, which can be used as another indicator for the main Non-Farm Employment Change on Friday, along with Final Services and Non-Manufacturing Purchase Managers’ Indices (PMI), which are both expected to show contraction in the sectors.

The US dollar may take a dip in the wake of poor economic data – contact your trader for most up to date rates and to plan a currency strategy.

Posted March 2nd, 2016 by Charles Purdy

Busier day for US dollar

Tuesday saw little movement for the US dollar, as it remained at one-month highs against the other major currencies. It remained steady against the euro as optimism over the strength of the US economy continued to support the US Dollar. The dollar fell slightly against sterling during the afternoon, despite weak UK Purchasing Managers’ Index (PMI) data, before returning to similar levels seen in the morning.

Today will see the release of ADP non-farm employment data from the US, which is expected to come out at 185,000, lower than last month’s figures of 205,000. Crude oil inventories data is also due to be released which may cause some movement, particularly against the Canadian dollar.

Posted March 1st, 2016 by Charles Purdy

Big data day for US dollar

The U.S saw some negative fundamental data to kick off the week, the most important being the Chicago Purchasing Managers’ Index (PMI), which captures business conditions across Illinois, Indiana and Michigan but is also representative of the US as a whole. This came in at 47.6, compared to an expected 53.0 and the previous month’s 55.6. Anything below 50 is seen as negative for the US economy.

However the US dollar Index (DXY), which compares the dollar against a number of the key world currencies, still ended the day +0.2% up. With very little news out the US dollar could still be seen as a safer haven currency given what is going on with the Brexit and ongoing commodity and equity slump.

It’s a big day today for the US in terms of data with the Manufacturing Purchasing Managers’ Index (an indicator of business conditions of manufacturing sector), Constructions Spending (spending on all types of construction) and the Weekly Crude Oil Stock Report (regional data relating to refinery operations for 85% of petroleum industry) all to be released. The data is expected to come in slightly above average so could see more dollar strength. Any surprises could weaken the US currency.

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