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Posted February 27th, 2015 by Charles Purdy

US Dollar boosted by inflation data

Thursday was a busy day for the US Dollar, with very mixed data releases. We saw the release of contrasting US Inflation data. Overall inflation dropped to its lowest figure since January 2009, but the Core Inflation figure was positive and higher than market expectations. Generally, the Core Inflation figure will be more accurate and in line with actual US inflation, as this excludes the volatile reading from energy and food prices (which have been both been affected by the recent slump in oil prices). US Unemployment Claims and Durable Goods Orders both recorded an increase month-on-month.

We expect another busy day for the US Dollar today, with the release of the initial growth figure. This is forecast to show positive growth for the fourth quarter of 2014, and be above average when compared to other key developed nations. We also have the release of Housing Data and consumer confidence indicator plus two members of the Federal Reserve are due to give speeches.

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 February 26th, 2015 by Charles Purdy

Will today’s data releases boost the US Dollar?

A busy day was expected on Wednesday for the US Dollar, with Federal Reserve Chair Yellen continuing her testimony in front of the House Financial Services Committee. However the main points taken from this statement were mainly reiterations from the first part of the testimony on Tuesday, and as such had limited effect on the market. In conjunction with this, New Homes Sales data was also released yesterday – and this showed a positive figure for the housing market in the US.

Today is a busy day for data which may well benefit the US dollar if positive. Consumer Inflation is expected to rise when compared to the previous month.

Posted February 25th, 2015 by Charles Purdy

US Dollar steady as Yellen worries about wage growth

Quite a mixed day for the US Dollar, with both positive and negative news. The US opened up with Flash Services PMI (Purchase Managers Index), which showed growth in the sector and was the highest we have seen since October 2014. However, the gains gleaned from this were quickly reversed when the Consumer confidence release was below the forecasted figure. Alongside the data releases, we also had Federal Chair Yellen testify before the Senate Banking Committee, confirming that a rate rise could happen at any Federal Reserve Member meeting – but really they would like to see continuing growth in the wages and labour markets before this happens.

Posted February 24th, 2015 by Charles Purdy

US Dollar starts the week quietly

In recent weeks, the general trend for the dollar is a quiet beginning of the week – and this Monday was no exception. The only release was Existing Home Sales, which was negative and fell to its lowest level since May 2014.

Today we can expect a busier day, with the releases of the Services Purchase Managers’ Index (PMI) and Consumer Confidence – which has been quite a strong figure as of late for the US. Also today, Federal Reserve Chair Yellen is due to testify on the Semi-annual Monetary Policy Report before the Senate Banking Committee; the focus here is expected to be on the question and answer session after the main report, with spotlight on a possible Interest rate hike or what thresholds need to be hit before it will happen.

Posted February 23rd, 2015 by Charles Purdy

Lots of US data this week, how will the US dollar react

After a quiet few weeks for the US dollar, we could see this week being more turbulent. Friday saw the release of positive manufacturing Purchasing Managers’ Index (PMI) figure, which was in the minority for data to come out from the US last week. However, the uncertainty due to a Greece-EU announcement regarding the Greek bailout extension strengthened the US dollar against both sterling and euro.

Monday will seem to be the ‘quietest’ day in terms of data releases, with the release of existing home sales data. With consumer confidence out on Tuesday, eyes will be on what follows, with US Federal Reserve Chair Yellen due to testify on the semi-annual Monetary Policy Report before the Senate bank committee.

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