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Posted March 31st, 2015 by Charles Purdy

A quiet start as momentum builds for the US dollar

Another quiet start to the week. US Personal Income increased and Personal spending decreased, showing that the public are now looking to start saving with the anticipation of a possible rate rise later this year. The figure for pending home sales in the US also increased, the biggest increase since July 2014.

We are expecting a busier day today for the US Dollar, as three Federal Reserve Members speak – Fischer, Lacker and Lockhart. Their spotlight will be firmly centred on talks regarding Interest Rates. Consumer confidence is also expected to show a stable figure, meaning further good news for the US economy.

The currently strong US economy is affecting the strength of the country’s currency against its major pairings. Contact your trader for the latest rates, news and information on how this may affect you.

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Posted March 30th, 2015 by Charles Purdy

Will poor US data undermine the US dollar?

The key question that everyone wants an answer to is when will the US start raising interest rates? Trouble is there seems no clear timetable as US economic data is wavering.
This week we have key employment data due out on Thursday and Friday and impo…

Posted March 27th, 2015 by Charles Purdy

Mixed messages and data make it difficult for the US dollar

This week has seen continued strength from the US dollar. Monday was a positive day for the currency, thanks to as Existing Home Sales data, which improved on the previous month, and Federal Reserve Member Fischer confirmation that a rate lift off is probably justified before the end of 2015 – although he emphasised that this would only be if the Federal Reserve are reasonably confident on inflation figures. Inflation did move in the right direction on Tuesday, showing a positive increase for the first time since September 2014. Manufacturing Purchase Manager’s Index (PMI) showed consecutive growth in the Manufacturing sector, and this was followed by another Federal Reserve Member Williams reiterating that it is appropriate to discuss raising interest rates by mid-year.

Posted March 26th, 2015 by Charles Purdy

US Dollar undermined by mixed messages on increasing interest rates

Wednesday was a fairly negative day overall for the US dollar, as it began to weaken against both the euro and sterling. This was encouraged by the morning’s dovish views from Federal Reserve member Evans who feels a 2015 Interest Rate rise may be too early, and instead backs a 2016 rise. Poor data followed this: durable goods orders figures were negative, showing a slowdown in the number of orders placed by consumers, and there was a slowdown in the US Crude Oil Inventories.

The Weekly Unemployment claims is released this afternoon, with a stable increase predicted. This is followed up by a speech by another Federal Reserve member, Lockhart, who has recently been very pro the idea of a 2015 rate rise.

Posted March 25th, 2015 by Charles Purdy

US dollar supported by good data

Tuesday was a mixed bag for the US dollar, as positive data releases failed to show continued strength against the euro and Sterling. Inflation figures showed an increase and positive figure for the first time since September 2014, plus the Core figure came out above expectations. The Manufacturing Purchase Manager’s Index (PMI) was released later in the day and showed consecutive growth in the Manufacturing sector, along with improved New Home Sales. Federal Reserve Member Williams also reiterated that it is appropriate to discuss raising Interest Rates by mid-year.

Another Federal Reserve Member, Evans speaks this morning, with a focus on his feelings surrounding a potential Interest Rate rise.

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