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Posted April 30th, 2015 by Charles Purdy

US Dollar continues to fall

The recent slowdown in the US economy was compounded on Wednesday with poor GDP figures, at the lowest level for a year. This affected the US dollar a great deal; it continued to weaken moving to two month lows against sterling and broke through the 1.11 level against the euro. Yesterday’s Federal Reserve meeting also highlighted their worries over the US economy when keeping US interest rates on hold and making it clear that until growth returns an interest rate rise in June is unlikely.

The US dollar will be looking for any positive news to help stop the free-fall we have seen over this past week. Data releases today include weekly unemployment claims, forecast to remain high, and personal spending which hopefully show a positive increase.

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 April 29th, 2015 by Charles Purdy

US Dollar under pressure

It was another tough day for the US dollar as it continued to weaken against the majority of its peers. Data releases for the US did not help, with the major release being consumer confidence, which fell to a low of three months. This helped push the US dollar to its highest level since March against sterling and above 1.09 against the Euro. This leads to speculation that a June interest rate hike may be too soon for the US economy.

We can expect another busy day for the US dollar, with major data releases. Advance gross domestic product (GDP)data, a growth indicator, is due to be released.…

Posted April 28th, 2015 by Charles Purdy

US Dollar continues to weaken

The US dollar continued to weaken on Monday, following a difficult spell last week. Monday saw the US currency break the 1.52 level against sterling, the first time since the start of March. This can be attributed to a weak Flash Services Purchasing Managers’ Index showing a drop in growth, as well as investors leaving the US dollar due to the recent slowdown in the economy. This has caused some investors to forecast that the next interest rate rise will be towards the end of the year rather than June.

We also have the next meeting of the Federal Reserve this week and although no detailed and updated economic forecast will be released, markets will be keen to get its perspective of whether or not the recent weakness is just a blip or a longer term trend.…

Posted April 27th, 2015 by Charles Purdy

US Dollar under pressure

The US dollar had a difficult week last week and weakened further against sterling and the euro on Friday as core durable goods orders data released showed a contraction in core orders being placed, although the overall figure had grown more than expected.

It will be interesting to see if the US dollar continues to weaken against its peers this week. Growth figures to be released on Wednesday for the first quarter are expected to highlight a tough winter and be close to 1%, much less than the 2.2% for the last quarter of 2014. We also have the latest Federal Reserve meeting the same day.

Posted April 24th, 2015 by Charles Purdy

US Dollar suffers a poor week

The struggle for the US dollar this week has been plain to see, thanks to weak data releases and a strong sterling pushing the US dollar above 1.50. Monday and Tuesday were relatively quiet days for the US dollar due to a lack of data releases. Some positive data was seen on Wednesday due to increased existing home sales and crude oil inventories, but this which failed to strengthen the US dollar against a strengthening sterling.

Thursday failed to help, and the US economy slowdown was evident with weaker than expected weekly unemployment claims and new home sales plus a slight drop in growth for the manufacturing purchase managers’ index (PMI).

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