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Posted April 23rd, 2015 by Charles Purdy

US dollar stumbles

Wednesday was a negative day for the dollar compared to the very quiet beginning of this week. Although there were positive data releases for existing home sales data and oil inventories, which were welcome given the recent slowdown of the US economy, they weren’t enough to stop sterling bounce up over the 1.50 level.

Today, we have the weekly initial unemployment claims figure released. The spotlight will be on these figures in the lead up to the release of key non-farm employment figure due at the start of May – which is expected to show another drop in employment growth for the US, a contributing factor for the recent slowdown. Flash manufacturing and new homes sales will also be released, with the former expected to show continued growth and the latter release remaining stable.

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 22nd, 2015 by Charles Purdy

US Dollar continues to be steady

Tuesday was another quiet day for the US dollar with no data releases. Federal Reserve member Rosengren did, however, announce that they may well have to experiment with the path to raising interest rates – and see how the US economy reacts to an early rise.

We expect today to be equally quiet, with only two releases likely to be released: existing home sales and crude oil inventories which are both forecast to show a slight increase – and in recent times the market has only reacted to these data releases when a much worse or better than expected figure is released.

Posted April 21st, 2015 by Charles Purdy

US Dollar also steady

There was little data released from the US on Monday. US Federal Reserve member Dudley advised that the dollar’s recent strong performance against the majority of its peers, makes the US outlook more unknown and points towards the recent slowdown in the economy.

We expect this quiet to continue, with no US data releases until Wednesday. The focus this week will be on the Unemployment Claims on Thursday. This was a tough figure for the US of late and an important lead indicator in the lead up to the Non-farm employment figure due out at the start of May.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted April 20th, 2015 by Charles Purdy

Will the US Dollar bounce back?

There was a positive end to last week for the US dollar. Inflation remained the same as the previous month, showing some stability, especially with the oil price still at very low levels, while a consumer spending indicator showed increased signs of positive spending. US Federal Reserve member Mester felt that the first quarter will underperform in the US, but feels the Federal Reserve has the tools and that the economy is ready for an interest rate increase.

It looks like it could be a quieter start to the week for the US dollar this week, with minimal data releases. Monday and Tuesday see no data releases, with the bulk of reports commencing on Wednesday.

Posted April 17th, 2015 by Charles Purdy

US Dollar has a “bad” week

It has not been a great week for the US dollar, as we have seen the majority of this week’s data disappoint as the US continues its fight against a slowdown in the economy. Retail sales in the US showed a slight increase but below forecast.

Wednesday saw a host of data releases, which did not help, with continued US dollar weakness as the Empire State manufacturing index and industrial production both showed decline. US Federal Reserve member Lacker gave a hawkish speech on Wednesday, stating his support for starting an interest rate rise in June, which would help push the US out of their current slowdown.

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