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Posted May 8th, 2015 by Charles Purdy

US dollar not being supported by data

Needless to say the main factor affecting the US dollar against sterling this week has been the outcome of the UK general election which saw an immediate boost for sterling as exit polls showed that the Conservatives would stay in power.

Also the US economic data releases, especially over employment, haven’t been as good as hoped for. And today we have the release of the key Non-farm payroll figures for April which are forecast to show an increase of 230,000 but may fall short as the US struggles to recover from a weak first quarter.

One factor behind the poor first quarter was the strength of the US dollar and its effect on exports but it has now fallen more than 5% from the peak it saw against a basket of currencies in March.

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

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Posted January 5th, 2015 by Charles Purdy

US dollar enjoys a strong start to the year

The US dollar had a largely positive day to start trading in 2015, enjoying strong gains against the majority of its partners. This came as manufacturing figures from the country continued the positive sentiment from 2014, with speculation over interest rate rises maintaining its pressure on the markets. Despite the fact that the Purchasing Managers Index (PMI) from the sector was lower than both last month and its predicted figure, the US dollar soared to its best levels in 16 months against sterling and the best rates for four-and-a-half years against the euro.

This week is a slow start for US data, with the first main piece not due until tomorrow.

Posted December 1st, 2014 by Charles Purdy

A very busy week for US data

The US dollar finished off last week in a positive manner, thanks to wider worldwide events. These was no economic data to drive the currency’s performance, and so the OPEC meetings regarding the oil market governed currency markets. Given the decision to keep oil output unchanged, the US dollar made gains against most of its partners. This was due to increased speculation that lower oil prices will support the US economy, as the dollar becomes a more attractive haven.

This week has the usual start of monthly releases to affect the dollar markets, starting today with the manufacturing Purchasing Managers’ Index (PMI) from the Institute for Supply Management (ISM).

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