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Posted March 7th, 2016 by Charles Purdy

US dollar at mercy of events elsewhere this week

It was a busy day for the US Dollar on Friday, with both the non-farm employment change and average hourly earnings data released. The Non-Farm Employment change was much better than expected, posting its biggest increase in two months, but US Dollar strength was soon countered as average hourly earnings contracted for the first time since January 2015.

We can expect a fairly quiet week for the US Dollar, with minimal data releases. On Monday we can expect a couple of the US Federal Reserve members speaking, where anything regarding a potential interest rate rise may have an impact in the market. Other than that, we can look forward to Thursday’s weekly unemployment claims data – which is expected to post another stable figure – and import price data on Friday, which is expecting to show further contraction. Investors will be looking elsewhere for factors that could affect US dollar movement.

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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