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Posted January 29th, 2016 by Charles Purdy

US growth data could outweigh sterling effects on US dollar

It was a quiet start to the week for the US dollar with movement still being dictated by sterling. We saw Consumer Confidence data out on Tuesday – an increase on the previous month – posting its best figure in four months. However, it was Wednesday evening that had investors anticipating the US Federal Reserve interest rate decision and the statement that followed. The Federal Reserve kept rates on hold as expected, but it was the tone in the statement that weakened the US dollar slightly, with the central bank now monitoring the global economy before making another decision on raising interest rates. The US dollar also did not receive support on Thursday, with durable goods orders showing contraction again, posting its lowest level since September 2014.

Today we can look forward to an advanced growth data release, which is expected to show successive growth. The Federal Reserve members will be keeping a close eye on this figure to indicate how well the US economy is growing.

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 28th, 2016 by Charles Purdy

US dollar

With minimal data released for the US during the day on Wednesday, attention turned to the US Federal Reserve Statement and Rate decision in the evening. Given the recent turmoil in stock markets, China and the falling oil price, the tone of the statement was more supportive of future US interest rate rises than expected as they focused on the economy rather than the stock market. This was supportive of the US dollar.

Today we see the release of the weekly unemployment claims, and this is expected to post another stable figure – along with durable goods orders, which is expected to fall in line with the recent negative inflation release and also post contraction.

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

Posted January 26th, 2016 by Charles Purdy

All eyes on the US Federal Reserve tomorrow

It was a very quiet day for US in terms of data releases on Monday, with no significant figures released. And with just the Consumer Confidence release due out today – which is expected to show a small increase – attention will turn to Wednesday’s US Federal Reserve Statement and the interest rate decision. The expectation is that the central bank will keep rates on hold, but it will be the comments after that may dictate market movements, as some members may view a short-term interest rate hike as a negative due to the recent poor data.

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 January 25th, 2016 by Charles Purdy

Busy week ahead for the US dollar – will its strength continue?

It was a quiet day for the US dollar on Friday, with minimal data releases. Those did however spawn positive results, with both Flash Manufacturing Purchase Managers’ Indices and Existing Home Sales growing against the previous month’s figures.

We can expect this week to be a much busier one for the US, with some major data releases. Tuesday will see the release of consumer confidence, which is expected to show a slight increase on the previous month – while Wednesday will be a key day. The US Federal Reserve is expected to make a further Interest Rate decision then; it is expected that they will these on hold, but it will be the statement afterwards that keen investors will look out for: are Federal Reserve members in favour of another Interest Rate Hike in the short term? Friday is just as important, with Advance Gross Domestic Product (GDP) figures released. It is expected that these will show growth, but this will be at a slower pace compared to previous figures.

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 January 22nd, 2016 by Charles Purdy

US dollar benefits from sterling weakness this week

After some positive weeks for the US dollar, this week has been a bit more negative in terms of data releases. The American currency has shown strength this week, but for the most part this has been dictated by sterling weakness rather than anything else.

We saw the start of the data releases on Wednesday, when Consumer inflation figures were released just below forecast; this was coupled with a slight increase in the weekly unemployment data and forced the US dollar to weaken slightly. The US Federal Reserve will be keeping a close eye on inflation now – along with the continued drop in Oil prices, this may affect their future decisions on continuing to increase interest rates.

Today, we can look forward to Flash Manufacturing Purchase Managers’ Indices and Existing Home Sales, with both bits of data expecting a slight 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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