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Posted February 13th, 2015 by Charles Purdy

US Dollar has a poor week

This had been a relatively quite week for the US dollar until Thursday when data releases disappointed resulting in it losing ground against both sterling and the euro.

Quite a few Federal Reserve members offered their insight into the likelihood of a potential interest rate rise this week. The general consensus from Federal Reserve members seems to be that the US needs to raise the interest rate, and it is now a question of when rather than if. Fisher and Plosser were very hawkish with their prediction, both wanting an early rise compared with the current forecasted mid-2015 rise – however there is not much overall support behind this.

In terms of data, the Growth Domestic product estimate indication was released on Tuesday, and the Crude Oil inventories on Wednesday; these were both positive figures. Thursday was the busiest day of the week in terms of releases, but both the core retail sales and unemployment claims data were very weak and worse-than-expected and resulted in weakness for the dollar against the majority of its peers.

Another quiet day is expected for today, with the release of Consumer Confidence data, which has been on the rise for 6 consecutive months.

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 26th, 2015 by Charles Purdy

US Dollar still the star

The US dollar had a slightly mixed end to the week, as the US again took a backseat to other currencies ‘movements. There were two data releases of lesser significance from the States, but both the manufacturing Purchasing Managers’ Index (PMI) and the existing home sales data came in slightly behind expectations. However, the dollar did manage to make gains in most areas, notably reaching an 11-year high against a turbulent euro. A strong performance from sterling saw the dollar lose out in this market.

With nothing due today, investors must wait until tomorrow for the first data activity from the US.

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