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Posted January 30th, 2015 by Charles Purdy

US Dollar has a respite

The US dollar has seen largely mixed fortunes this week. Durable goods orders data released on Tuesday showed an unexpected decline of 3.4%, having been forecast to increase slightly, which worried markets as it seems to indicate that US company exports are being hurt by the strength of the dollar. This contrasted with better than expected outcomes for consumer confidence and for new home sales.

The Federal Reserve meeting on Wednesday showed no change in interest rates yet, as was expected, but also showed no real change in their view going forward. While this didn’t satisfy investors’ hopes for a clearer idea, it maintained the view that they will happen sometime this year. Support for this was found yesterday as the unemployment claims were better than expected, keeping up the positive data that has been adding encouragement for increased interest rates.

Final activity is due later this afternoon, with the growth figure showing an indication of overall economic health. As such, further good results could help the dollar at the end of a mixed week.

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 January 29th, 2015 by Charles Purdy

Steady as she goes for the Federal Reserve

The US dollar had a largely positive day yesterday, thanks more to global revelations than internal changes . The main event driving the dollar higher throughout the early part of the day came from Singapore, as they joined the list of Central Banks who had eased their monetary policy. With this showing further divergence in central banks across the world, the dollar rose thanks to their own central bank’s current strength.

Overnight we heard the latest from the Federal Reserve with regards to interest rates, and this showed no change in interest rates or in sentiment from the previous meeting with the economy doing well and a wait and see approach to inflationary pressures.

Posted January 28th, 2015 by Charles Purdy

US Dollar strength beginning to hurt US exports

The US dollar had a largely disappointing day yesterday, amid some mixed results from its economic data releases which highlighted that US dollar strength is beginning to have a significant impact on exports. The most significant release was a disappointing one for the country, as the Durable Goods Orders data showed an unexpected decline. With forecasts suggesting the result would show an increase of around 0.6%, the actual result of a 3.4% decrease left investors feeling as cold as the New York weather. As a result, the dollar fell against most of its major partners, having been at record levels.

Positive consumer confidence and new home sales releases added some positivity to stem the losses, but failed to reverse the stronger trend.

Posted January 27th, 2015 by Charles Purdy

US Dollar starts the week slowly

The US dollar had a mixed start to the week, on a day of low data activity all around. With nothing of note out from the US, its currency had little to go on, and as such saw no single movement to speak of. Key areas saw the dollar slide, losing ground against both sterling and the euro, with the latter particularly active after the weekends developments in Greece.

Today sees activity increase especially from Stateside, with a number of releases due to impact the markets. The first of these comes in the form of the Durable Goods Orders figures, as investors look for data that could support the US dollar this week.

Posted January 26th, 2015 by Charles Purdy

US Dollar still the star

The US dollar had a slightly mixed end to the week, as the US again took a backseat to other currencies ‘movements. There were two data releases of lesser significance from the States, but both the manufacturing Purchasing Managers’ Index (PMI) and the existing home sales data came in slightly behind expectations. However, the dollar did manage to make gains in most areas, notably reaching an 11-year high against a turbulent euro. A strong performance from sterling saw the dollar lose out in this market.

With nothing due today, investors must wait until tomorrow for the first data activity from the US.

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