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Posted March 4th, 2016 by Charles Purdy

Mixed week for US dollar as outlook uncertain

It has been a fairly mixed week for the US dollar as movement continues to be dictated by the UK’s EU Referendum later in the year. The week started well for the US, with the ISM Manufacturing Purchasing Managers’ Indices and Construction Spending data released on Tuesday, both with better-than-expected figures. These were followed by the ADP Non-Farm Employment Change (which is used as an indicator for the key employments release on Friday), which posted another stable figure. The outlook soon turned gloomy, though, as Thursday showed a slight increase against expectations in the weekly labour data, final Services PMI data continued to show contraction, and factory orders grew less than what was expected.

The spotlight for this week is on today’s Non-Farm Employment Change figures, which is expected to post growth on last month’s disappointing release. But Average Hourly Earnings are expected to show a slowdown in growth. Expect movement in all key currencies following this release.

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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