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Posted November 19th, 2015 by Charles Purdy

US markets slow as investors eagerly await Fed meeting minutes on interest rates

Yesterday was a relatively quiet day for the US Dollar, as investors waited for the release of the US Federal Reserve meeting minutes. Building Permits in the US came out as expected, showing moderate growth, but this did not have much of an impact on the market as the waiting continued. The actual minutes were slightly more ambiguous than expected re. a December increase in US interest rates so we have seen a small amount of US dollar weakness subsequent to their release.

Following yesterday’s meeting minutes, we can look forward to two Federal Reserve members speaking – but they are expected to be for a interest rate increase. In terms of data, the weekly labour data will be released; this is forecast to be yet another stable figure.

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 November 12th, 2015 by Charles Purdy

Eyes and ears on the Federal Reserve today

It was a quiet day for US markets, with Veteran’s Day on Wednesday and banks being closed. The attention now turns to the end of the week. With weekly labour data due out today, the spotlight will be on US Federal Reserve Chair Janet Yellen, who speaks.

With expectations high for a December interest rate rise, investors will be keen to see if there are any comments made by Yellen that might mention or allude to a potential hike. Any related statements or clues could have the opportunity to influence the US dollar market. Following Yellen’s speech, we will also be hearing from three other members of the central bank.

Posted October 29th, 2015 by Charles Purdy

US dollar strengthens as December interest rate rise seems likely

It was quiet for the US dollar during the day on Wednesday, with minimal data released. Focus was on the US Federal Reserve interest rate decision and the statement that follows and this statement sent the currency markets into overdrive. Not from what it said but from what it omitted. It omitted the caveat about the world economy possibly depressing the US economy which has increased the likelihood of a December interest rate rise which strengthened the US dollar across the board.

Following the interest rate decision and statement yesterday evening, we can look forward to a busy day today, with advance growth figures released in the early afternoon.

Posted October 15th, 2015 by Charles Purdy

A downward trajectory for the US dollar

Wednesday was not a good day for the US and its currency, with the US dollar weakening one and half cents against sterling and half a cent against the euro. This was as a result of weak data releases that showed a larger drop in retail sales than expected; and producer inflation falling further into negative territory. Following these disappointing figures, various banks cut their third quarter US growth forecasts.

Today we could look at further negativity for the US, as consumer inflation is expected to worsen against the previous month, posting a second consecutive negative figure. This is followed by the weekly unemployment claims which should post another stable figure.

Posted August 20th, 2015 by Charles Purdy

Bets on a US interest rate hike pushed back

The US dollar weakened further Wednesday due to a slight drop in consumer inflation – a key indicator for the US Federal Reserve when considering the ate to raise interest rates. This slight drop meant that questions surround the possibility of a September interest rate lift off. The meeting minutes suggested that most of the members of the Federal Reserve felt that the “conditions for a rate-hike were getting closer”; however, the officials also highlighted concerns including the Chinese economy and a sustainable labour market. Moreover, the central bank shifted its rhetoric towards a focus on inflation, stating that the members need to see inflation heading further towards its target before considering an interest rate-hike.

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