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Posted February 29th, 2016 by Charles Purdy

Busy week ahead for the US dollar

It was a quiet Friday morning for the US dollar, with sterling attempting to recover from its recent hits. However, with better than forecasted growth in Gross Domestic Product (GDP)  for America, as well as Personal Spending and Personal Income both growing better than expected this was short lived.

We can expect further movement this week with the all-important Non-Farm Employment Change on Friday. Leading up to this release we can expect various indications on Wednesday and Thursday, with the ISM manufacturing Purchase Managers Indices (PMI) and Non-Manufacturing PMI’s expecting mixed releases. The worry continues to be how robust is the US economy and how likely are further increases in US interest over the rest of 2016.

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Posted February 26th, 2016 by Charles Purdy

US dollar strength to be tested by growth data

It has been a strong week for the US dollar, having gained two cents against the euro and strengthened to exchange rates last seen in 2008 against sterling. This has been mainly due to sterling continuing to weaken, but also discouraging data on Eurozone’s inflation. Consumer Confidence and Flash Services Purchasing Managers’ Indices (PMIs) both tested the recent US dollar strength, with figures that did not meet expectations. Positivity returned on Thursday, with both durable goods figures and the weekly unemployment claims in-line with expectations.

Investors will be keen for today’s preliminary growth data, which is expecting to post further growth. Along with this release we can expect both Personal Spending and Personal Income data. Both are due to show growth, but any surprises could spell movement for US dollar markets

Posted February 25th, 2016 by Charles Purdy

Quiet day for the US dollar as sterling continues to dictate the markets

Wednesday was a quiet day for data in the US, with only Flash Services Purchase Managers Indices (PMI) being the release of any note- and this showed contraction in the sector for the first time since October 2013,which was a shock to investors. However the performance of the US dollar against sterling was once again sterling dictated.

Today’s we can expect slightly more data, in the lead up to Friday’s Gross Domestic Product (GDP) figures. Durable goods orders are expected to post growth for the first time in three months, along with the weekly unemployment data, which is expected to remain stable.

Posted February 24th, 2016 by Charles Purdy

Negative data in the US can’t push the dollar back down against a weak sterling

With less than impressive data releases on Tuesday, movements for the US dollar continue to be dictated by sterling. We saw the release of Consumer confidence, which fell harshly compared to the previous month – right down to the lowest level in three months. Existing Home Sales data, however, pushed up  to its highest level for four months.

Minimal data releases are due today, with Flash Services Purchase Managers’ Indices expecting to show growth with a small increase on the previous month. We expect to see the market movements continue to be dominated by sterling.

Posted February 23rd, 2016 by Charles Purdy

US dollar affected by sterling movements

US dollar movements continued to be dictated by sterling movement on Monday, thanks to the announcement of the UK’s EU Referendum over the weekend. Flash manufacturing Purchase Managers Indices (PMI) figures were disappointing with growth slower than anticipated – although this did not affect the American currency too adversely.

Today we can look forward to Consumer Confidence which is expected to drop slightly on the previous figure, but should still show stability. The main focus for this week will be on Friday’s Preliminary Gross Domestic Product (GDP) figures, which are expected to show further growth in the US economy.

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