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Posted December 31st, 2014 by Charles Purdy

A disappointing day for the US dollar

The US dollar had a more disappointing day yesterday, falling against the majority of its most traded partners. This was in part due to the only US data piece of note released, the Consumer Confidence figure coming in below expectations.

The dollar still looks to be ending the year on an overall positive note, however, having made gains against all 31 of its major partners since January 2014. This strength has come largely from quickening growth and subsequent speculation over the raising of interest rates.

We expect a number of further data releases today, on the final day of the year. The most significant of these is likely to be the unemployment claims, with the labour market always a key area to indicate economic strength. Supporting this data are a few smaller points, including the Chicago Purchasing Managers’ Index and the Pending Home sales figure. As such, there is still some opportunity for the dollar move further at the end of a largely successful year.

The US dollar has had a stellar year, so please give us a call to see if on the final day it is ending the year in style.

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Posted December 30th, 2014 by Charles Purdy

No real movement for the US dollar

The US dollar had a largely uneventful start to this week, which was unsurprising given the distinct lack of data worldwide. The US currency did make slight but steady gains against sterling, but was little changed against the euro, as neither currency saw any particular movement.

Today does see some activity return to the data releases from the USA, with a single piece of note due this afternoon in the shape of the Consumer Confidence figure, which could see some impact on the dollar markets in an otherwise quiet environment.

With data low and market liquidity limited in this interim period between Christmas and the New Year, there is the potential for augmented market movements, particularly if any data is exceptional.

Posted December 29th, 2014 by Charles Purdy

Will the USA dollar end the year with a flourish?

There is a constant flow of data from the US this week which could see the US dollar make further gains especially given the low trading volumes expected in the holiday period.

The data that is being released, especially the Purchasing Manager Indices, are expected to show continuing expansion of the US economy which is all supportive of a US interest rate rise sooner than any likely increase here in the UK. And in turn this could keep pushing sterling to lows last seen in the middle of 2013 against the US dollar.

Please keep in contact with your trader over this period so that you don’t get caught out by any sudden and unexpected exchange movements.

Posted December 24th, 2014 by Charles Purdy

A busy day for the US dollar

Tuesday 23rd December proved a very busy day for the US dollar. Important data releases saw the US dollar reach its highest against sterling for the first time since late August 2013 – a year and a half high!

Despite new home sales data coming out at 23K less than expected, final GDP figures showed an overall improvement of 7% which acted as the main jumpstart for the currency. Market data released on Christmas Eve, 24th December, will focus on unemployment claims, which will be the last major US data release before the Christmas break. With the forecasted figure of 291K, the US dollar will likely strengthen even further if the data comes out less than expected.

Posted December 23rd, 2014 by Charles Purdy

A busy day for the US dollar lies ahead

With minimal data coming out of the US yesterday, the market remained focused on a raft of key releases out today. The only release for the day saw existing home retail sales come out 5.6% less than expected, but despite this, the impact was muted.

The key release today will be the final growth figure which is expected to show the US economy grew by 4.3%. Also released today we will have new home sales data and statistics on data on core durable goods, whilst on Wednesday we see the weekly unemployment claim. It will be interesting to see how the US dollar fares in the run up to Christmas.

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