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Posted October 8th, 2015 by Charles Purdy

Critical day ahead for the US dollar

Wednesday was a quiet day for the US dollar, leaving sterling to strengthen on the back of positive UK news.

But today will be a lot different as markets will be focused on the release of the latest US Federal Reserve Meeting Minutes, as they gauge how the members view a possible interest rate rise later this year; members have been split recently on whether this would be a positive move for the US economy so it is of great interest how the latest discussions have gone. We should expect some rapid movement in all markets including the currency markets.

Before the minutes are announced, the weekly unemployment claims figures are due – and are expected to remain at steady.

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 September 30th, 2015 by Charles Purdy

Will the US dollar continue to strengthen today?

The US dollar strengthened further on Tuesday as consumer confidence posted its strongest figure since August 2007. This shows confidence is high in the US even with the expectation of an interest rate rise possibly being pushed back until next year, and the knock on effect from the recent struggle in the Chinese economy. US Federal Reserve member Loretta Mester also said that the US are able to deal with an increase in rates this year – she is the second member who looks to be pushing for an increase in the short term.

The focus on this week will be on Friday’s non-farm employment change data, which is expecting to post an increase on the previous month’s. Today we will see an indicator leading up to this release, with the ADP non-farm employment change. Following this, we can look forward to Federal Reserve Chair Yellen speaking in the evening. Any indications as to a potential rate hike could spell movement in 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.

Posted September 29th, 2015 by Charles Purdy

Is the US on track for an interest rate hike?

News that personal spending in the US has increased slightly was released on Monday, despite news that personal income had dropped slightly. While the former should reflect in upcoming retail sales figures, the implication is that consumers are not saving, a point which the US Federal Reserve will need to take into account when considering a potential US interest rate hike.

There were multiple US Federal Reserve members who gave speeches on Monday, but the highlight was by New York Federal Reserve Bank President William Dudley, who said that they expect rates to rise later this year. The US dollar strengthened following this comment.

There is very little data of significance due today, with consumer confidence expected to show a slight decline. Attention will turn to any comments made by US Federal Reserve members following Dudley’s comments yesterday, with various banks also raising their expectations on US growth rates for the third quarter of 2015.

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 September 28th, 2015 by Charles Purdy

US dollar strengthens

The US dollar held its previous gains against sterling on Thursday, despite US initial jobless claims and continuing claims figures disappointing against expectations. Later, in the local session from Federal Reserve Chairwoman, Janet Yellen, the American currency pushed higher, thanks to her assertion that it “will likely be appropriate to raise the target range for the federal funds rate sometime later this year.” Friday saw the dollar strengthen further, after a positive Gross Domestic Product (GDP) reading for the second quarter of 3.9% in comparison to the forecast 3.7%.

This week we have a raft of US data spread throughout the week but the highlight will be the Non-farm payroll figures released on Friday which are expected to show a slight improvement on last month. They will be accompanied by the unemployment rate and the hourly earnings figures. So we should expect some significant movement for the US dollar if the case for a US interest rate rise becomes irresistible.

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 September 24th, 2015 by Charles Purdy

US dollar strengthens thanks to weak sterling

The US dollar strengthened on Tuesday, with very little data releases. Flash Manufacturing Purchase Manager’s Indices (PMI) showed a stable figure, with continued growth. This strength from the US dollar was mainly due to sterling weakening across the board.

We can expect more data releases today, with core durable goods orders expecting to show a small decline on the previous month’s figure, and the weekly unemployment claims expecting to remain stable. US Federal Reserve chair Yellen also speaks later this evening, where any indication regarding an interest rate rise may lead to further US dollar strength.

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 September 17th, 2015 by Charles Purdy

US interest rate decision the key event today

We experienced weakness for the US dollar on Wednesday due to the release of poor consumer inflation data that dropped to negative territory for the first time in seven months, showing that the recent struggle in China is having a knock-on effect on to the US economy.

We can expect a busy day today, with important releases due. Firstly, the weekly unemployment figure is expected, and estimated to remain stable. However, the focus is on the evening’s US Federal Reserve rate decision and minutes. The expectation is that the Federal Reserve will leave rates on hold, but it will be the following report of the meeting’s minutes which will be the talking point, as many banks and investors had previously expected a rate hike to start this month.

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 August 27th, 2015 by Charles Purdy

The US dollar has a strong day

Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.

Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.

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 August 27th, 2015 by Charles Purdy

The US dollar has a strong day

Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.

Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.

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 August 27th, 2015 by Charles Purdy

The US dollar has a strong day

Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.

Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.

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 August 20th, 2015 by Charles Purdy

Bets on a US interest rate hike pushed back

The US dollar weakened further Wednesday due to a slight drop in consumer inflation – a key indicator for the US Federal Reserve when considering the ate to raise interest rates. This slight drop meant that questions surround the possibility of a September interest rate lift off. The meeting minutes suggested that most of the members of the Federal Reserve felt that the “conditions for a rate-hike were getting closer”; however, the officials also highlighted concerns including the Chinese economy and a sustainable labour market. Moreover, the central bank shifted its rhetoric towards a focus on inflation, stating that the members need to see inflation heading further towards its target before considering an interest rate-hike. As a result, market estimates for when the US will look to raise interest rates have been pushed back especially in light of the lower than expected inflation data released yesterday.

Following the Federal Reserve minutes last night, today we look forward to both the weekly unemployment claims and existing home sales data. Unemployment claims are expected to show a very small drop on the previous week, continuing to show positivity in job opportunities. Existing home sales is also expected to show a slight drop on the previous month.

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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