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Posted December 3rd, 2015 by Charles Purdy

Yellen speaks today – will she lend further support for a US interest rate rise this month?

It was a busy day for the US dollar on Wednesday, with various data releases and further strengthening. The Automatic Data Processing Non-Farm Employment change showed continued growth; this tends to be used as an indicator for Friday’s key release of non-farm payroll changes. We also had positive comments from the Chair of the Federal Reserve Yellen stating that the US economy was in a robust enough state to support an increase in interest rates. This resulted in the US dollar hitting a 12 year high against a basket of its peers.

Today will see the release of the weekly labour data, expecting yet another stable figure. Following this, we will see the Final Services and Non-Manufacturing Purchase Manager’s Indices – both expected to show continued growth in these sectors. Investors will be keeping a keen eye on US Federal Chair Yellen, who speaks later in the afternoon; looking for any comments made regarding any change to the Interest Rate in two weeks’ time.

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 December 2nd, 2015 by Charles Purdy

Will there be any hints about Interest Rates from the US today?

Tuesday was a mixed day for the US dollar, shown in multiple data releases. The ISM Manufacturing Purchasing Managers’ Index (PMI) showed its first contraction since May 2013, leading to worrying signs regarding the manufacturing sector. However construction spending was released shortly after, and showed spending at its highest point since June 2015.

There are a number of US Federal Reserve members speaking in the early afternoon including Chairperson Yellen. Investors will be keeping a keen eye out for any comments relating to Interest Rates, with a decision expected on the 16th of December. We also look forward to the ADP Non-Farm Employment Change, and this tends to be used as an indicator for the main employment release due on Friday, with further growth expected.

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 November 26th, 2015 by Charles Purdy

Mixed day for US dollar

It was a mixed day for the US dollar in terms of data releases seen on Wednesday. The major release of the day, durable goods data, marked its largest figure in months, with the weekly unemployment claims also showing yet another stable figure. However, personal spending fell just short of the expected figure, failing to show signs of growth from the previous month.

With significant data releases from the US done for the week due to Thanksgiving today, attention will turn to next week’s non-farm employment change figure, which could affect 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 November 19th, 2015 by Charles Purdy

US markets slow as investors eagerly await Fed meeting minutes on interest rates

Yesterday was a relatively quiet day for the US Dollar, as investors waited for the release of the US Federal Reserve meeting minutes. Building Permits in the US came out as expected, showing moderate growth, but this did not have much of an impact on the market as the waiting continued. The actual minutes were slightly more ambiguous than expected re. a December increase in US interest rates so we have seen a small amount of US dollar weakness subsequent to their release.

Following yesterday’s meeting minutes, we can look forward to two Federal Reserve members speaking – but they are expected to be for a interest rate increase. In terms of data, the weekly labour data will be released; this is forecast to be yet another stable figure.

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 November 12th, 2015 by Charles Purdy

Eyes and ears on the Federal Reserve today

It was a quiet day for US markets, with Veteran’s Day on Wednesday and banks being closed. The attention now turns to the end of the week. With weekly labour data due out today, the spotlight will be on US Federal Reserve Chair Janet Yellen, who speaks.

With expectations high for a December interest rate rise, investors will be keen to see if there are any comments made by Yellen that might mention or allude to a potential hike. Any related statements or clues could have the opportunity to influence the US dollar market. Following Yellen’s speech, we will also be hearing from three other members of the central bank. Any comments from them on the same topic could also have the power to move the dollar market.

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 November 5th, 2015 by Charles Purdy

Strong data in the US pushes the dollar ahead against both its main rivals

Wednesday was another positive day for the US dollar, as it strengthened over a cent against the euro and gain ground against sterling. This was essentially down to a stable figure from the Automatic Data Procession (ADP) Non-farm employment change, and better than expected Trade Balance and ISM Non-manufacturing Purchase managers indices (PMI). We also had Janet Yellen, Chairman of the Federal Reserve, in her testimony to a Congressional Committee that a December increase in US interest rates was a “possibility”

Today we can look forward to weekly labour data, also expected to be another stable figure in the lead up to the Non-Farm Employment change release on Friday. Various US Federal Reserve members are also speaking, including Fischer, Dudley and Lockhart who have recently giving Hawkish views regarding a possible interest rate rise in the short term.

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 October 29th, 2015 by Charles Purdy

US dollar strengthens as December interest rate rise seems likely

It was quiet for the US dollar during the day on Wednesday, with minimal data released. Focus was on the US Federal Reserve interest rate decision and the statement that follows and this statement sent the currency markets into overdrive. Not from what it said but from what it omitted. It omitted the caveat about the world economy possibly depressing the US economy which has increased the likelihood of a December interest rate rise which strengthened the US dollar across the board.

Following the interest rate decision and statement yesterday evening, we can look forward to a busy day today, with advance growth figures released in the early afternoon. This is expected to show six months of consecutive growth; any surprises could cause movement in dollar markets. Weekly unemployment claims are also released, and expected to show another positive figure.

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 October 28th, 2015 by Charles Purdy

Mixed day for the US dollar

Yesterday started with the dollar clawing back some of the strength it lost last week. This upturn was due largely to US durable goods data, which were reported as relatively better than expected, at -1.2% compared to the market projection of -3.0%. However, this was shortly counteracted with worse-than-expected Purchasing Managers’ Index (PMI) figures, released at 54.4 compared to market projection of 55.1, and poor consumer confidence data, released at 97.6 despite a market projection of 102.9. This has caused some weakness within the dollar and caused it to trade narrowly against sterling.

Today there is no significant data released throughout the day, but this evening could see significant movement, given that the Federal Open Market Committee (FOMC) is due to deliver its interest rate decision. No change is expected but the rhetoric used for the announcement will be very carefully scrutinized for any hints as to when they could start to be increased.

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 October 22nd, 2015 by Charles Purdy

Mortgage Applications figures the only release of note for the US on Wednesday

It was another very quiet day for the US on Wednesday in terms of economic data. The most significant update was the US Mortgage Applications figures, considered the leading indicator of the US Housing Market. A large move from -27.6% in September to 11.8% represents a strong positive swing in the health of the housing market – although this remains relatively bearish. Alongside this data the DYX (US Dollar Index) was shown to be steadily increasing, as traders move back into the safe-haven currency following the release of a relatively weak third quarter Gross Domestic Product (GDP) from China.

Today, the focus is on the Chicago Fed National Activity Index (a gauge of overall economic activity) and the Initial Jobless Claims (measuring strength of the labour market). The latter is expected to come in at 265k,up from 255k last month, which indicates weakness in the market and may be seen as a negative for the US dollar.

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 October 15th, 2015 by Charles Purdy

A downward trajectory for the US dollar

Wednesday was not a good day for the US and its currency, with the US dollar weakening one and half cents against sterling and half a cent against the euro. This was as a result of weak data releases that showed a larger drop in retail sales than expected; and producer inflation falling further into negative territory. Following these disappointing figures, various banks cut their third quarter US growth forecasts.

Today we could look at further negativity for the US, as consumer inflation is expected to worsen against the previous month, posting a second consecutive negative figure. This is followed by the weekly unemployment claims which should post another stable figure. Following a lacklustre day for the US dollar on Wednesday and possibly today, attention will be on US Federal Reserve members in how they feel the recent data releases will affect their decision on an interest rate hike this year.

If you are looking to buy or sell US dollars, now is a good time to contact your trader for live rates, the latest news and to discuss currency purchasing strategies.

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