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Posted August 29th, 2014 by Charles Purdy

US Dollar supported by positive growth data

The US dollar had a varied week, trading within a fairly narrow range. Mixed durable goods orders figures towards the start of the week saw the dollar harbour some uncertainty, while encouragement was found through the consumer confidence figure. A disappointing showing came mid-week as a lack of economic data saw the dollar’s strength waiver, weakening from an 11-month high against a strengthening euro. However, this trend was reversed yesterday as growth figures were positive. They came out better than anticipated, and this broad measure of economic health bolstered the dollar’s performance. This was supported by unemployment claims that were on par with expectations, as investors continue to look for evidence supporting increased interest rates. The pending home sales also easily passed its predicted level, furthering the dollar’s advances against most of its partners.

Today closes out the week in relatively quiet fashion, although a number of smaller pieces of data could combine to impact markets. Personal spending figures are due, as well as the Chicago Purchasing Managers’ Index, as well as Consumer Sentiment data from the University of Michigan.

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 August 28th, 2014 by Charles Purdy

US Dollar weakens ever so slightly

The US dollar had a disappointing day yesterday, seeing a decline against the majority of its partners in the absence of economic data. On a day with little data from anywhere in the world that was of major significance, the dollar weakened from its recent 11-month best against the euro as the multination currency gained back some strength of its own.

Today sees economic data activity start up again, with a number of key releases due from the US. Two significant pieces are scheduled for early afternoon – growth and labour figures. The growth figure will be the most anticipated, given its broad measure of economic health.

Posted August 27th, 2014 by Charles Purdy

The US Dollar is still the “leader of the pack”

The US dollar had a mixed day yesterday, trading within a fairly narrow range against a large number of its major partners. Data from stateside was mixed, leading to rises and falls in the dollar’s strength throughout the day. While the overall durable goods orders had shown a record rise, the figure was skewed by an increase in aircraft orders. As such, the normalised core figure which discounts aircraft orders actually showed a-greater-than expected decrease. Later in the day, we saw a little more encouragement as the consumer confidence figure came out above expectations.

Today is a lot quieter on the data front, as only the mildly important crude oil inventories are due, which might impact on the dollar from stateside.

Posted August 26th, 2014 by Charles Purdy

US Dollar stays strong

The US dollar had a mostly positive end to last week, thanks to some encouragement by the US Federal Reserve Chair Janet Yellen. In a speech at the Jackson Hole Symposium, Ms Yellen’s address paid particular attention to the labour market. She made note of the past five years’ gains, throughout the economic recovery, while also maintaining some slack at present. As a result, the dollar rose to an 11-month high against the euro.

Yesterday saw the new home sales released from the US, while today continues events with both the core durable goods orders and the consumer confidence by the Conference Board.

Posted August 22nd, 2014 by Charles Purdy

US Dollar continues to strengthen

The US dollar has experienced an eventful week, with plenty of key events pushing the currency to long-term highs in certain areas. Monday saw the National Association of Home Builders’ Housing Price Index come out at a seven-month high, driving the dollar upwards against the euro. Further data from this sector helped the currency strengthen on Tuesday, as the number of residential buildings started in the last month was at its highest in eight months. This allowed the dollar to reach the best levels in nine months against the euro, and four months against sterling.

Alongside this, inflation figures remained steady, meaning investors began to ponder the timescales of a possible interest rate rise.

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