Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
  Daily Currency News Euro US Dollar Educational Articles  
Posted February 28th, 2014 by Charles Purdy

US Dollar has a mixed week

A mixed week for the US dollar saw the currency initially lose ground against its major trade partners after disappointing results from the US consumer confidence survey, which showed that households in the US were more worried about the state of the economy than was initially forecast. However, figures indicating an increase in new home sales in the past month prompted a recovery for the US dollar on Wednesday.

The US dollar has weakened significantly this morning following last night’s testimony from US Federal Reserve Chair Janet Yellen.  This movement came in spite of confirmation that the central bank plans to continue tapering its quantitative easing program unless the economic recovery deteriorates significantly.

Today sees the release of preliminary growth figures from the US, and with a raft of recent weak data from the US, expectations are that the figures will show that growth slowed in the last quarter.

Looking to buy or sell US dollars? Contact your trader not for the latest live rates and for currency-buying strategies.

Comments are closed.

Posted February 27th, 2014 by Charles Purdy

US home sales data boosts the US dollar

The dollar was boosted yesterday following the release of data showing that the number of new home sales in the US had increased significantly over the past month. The sale of new homes has a wide-reaching effect on an economy as a number of industries are involved in the purchase and furnishing of a home; it also shows confidence in the housing sector. Consequently, the dollar performed well against its major currency partners, pushing sterling away from a four-year high against the US dollar despite positive growth figures out of the UK.

Today we are likely to see more movement from the dollar with the release of unemployment claims.

Posted February 26th, 2014 by Charles Purdy

US dollar weakens

The US dollar suffered a disappointing day yesterday, weakening against the currencies of major trade partners. There had been significant market confidence ahead of the release of results from the US consumer confidence survey in the US but this optimism soon evaporated as the results were weaker than forecast, rapidly wiping out previous gains for the US currency.

Today sees the release of new home sales in the US, which may influence markets. Greater attention may be drawn to the UK however, where revised fourth quarter gross domestic product figures for 2014 will be released. With sterling pushing back towards a four-year high against the dollar, an improved forecast could see the dollar suffer further losses.

Posted February 25th, 2014 by Charles Purdy

Lack of data keeps US dollar steady

Yesterday proved to be a flat day for the US dollar, although it did weaken slightly against its major trade partners following the release of better-than-expected German Business Climate survey results, which revealed increasing optimism in Germany. Today’s market promises more movement, with the release of the Consumer Confidence Survey in the US. This survey of consumer spending will provide a strong indicator of financial confidence in the US and is forecast to have fallen this month following severe snow storms across the US.

Wondering whether to buy or sell US dollars? Get in touch with your trader for live rates and to inquire about currency-purchasing strategies designed to help you minimise risk and save money on currency conversions.

Posted February 24th, 2014 by Charles Purdy

Investors eye update to US growth figures this week

The US dollar had a mixed day at the close of last week, seeing shifts in both directions. Some losses were seen from the currency, with the only data – existing home sales figures – coming in below expectations. However, the dollar ended up better against sterling, and also versus the yen thanks to speculation that the Bank of Japan will continue its stimulus while the US Federal Reserve cuts theirs.

This week starts slowly today, before increasing in activity tomorrow with the release of the Consumer Confidence figure for February. Wednesday sees the new home sales figures announced, before Thursday’s core durable goods orders comes alongside the ever-important unemployment claims.

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus