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Posted December 18th, 2014 by Charles Purdy

US Dollar buoyed by expectations

The US dollar had a stronger day yesterday, making gains ahead of the Federal Reserve’s meeting. Despite a lower-than-expected inflation reading, the currency rose from its recent four-week lows, thanks to speculation over events and outlook from the meeting. While the official line from the Federal Reserve has been US rates will not rise for ‘considerable time’, there was some expectation in the markets that this phrase would be removed, hinting at nearing interest rate rises. The phrase was removed but replaced by a phrase that stated that they would be “patient” when considering an interest rate rise which thereby avoids any undue commitment.

Today keeps up with the steady stream of data, with two potentially influential releases. The first of these comes in the form of the ever-important labour market, with the weekly unemployment claims. Following this will be the Manufacturing Index from the Philadelphia Federal Reserve; these will be the main points of note for investors, alongside continued reaction from last night.

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 December 3rd, 2014 by Charles Purdy

Will employment data released today see the US dollar strengthen further

The US dollar had a good day yesterday, thanks to positive speculation over the relative strength of the US economy. With physical data thin on the ground from stateside, investors were betting that economic reports from today onward would add to evidence in favour of tighter monetary policy in the US. With this being particularly strong compared to  that of Europe and Japan, the dollar rose back to a seven year high against the yen, and nearer towards the recent two-year levels against the euro. The falling oil prices also benefited the dollar.

Today holds a number of key releases from the US, starting with the independent non-farm employment change figure.

Posted November 17th, 2014 by Charles Purdy

US dollar ends week on a low – FOMC this week’s focus

The US dollar ended last week with varied results throughout the day, despite some positive data. The retail sales figure was the key release on Friday, and by significantly by beating expectations, helps the US dollar to make gains against the vast majority of its partners. This was supported by better than expected import prices to help drive the currency, although this positivity did not last – by the end of the day the currency had given up most of this ground, despite the consumer sentiment figure also beating expectations. Further late weakness saw the dollar finish low against most, including reaching the lowest level in a week against the euro, but held on to smaller gains against a weak sterling.

Posted November 14th, 2014 by Charles Purdy

US Dollar strongest against sterling in year

A quiet start to the week for the US dollar evolved into one of mixed results as activity increased later in the week. Slight increases on Monday were lost throughout Tuesday, where the Veteran Day bank holiday saw the dollar lose out against most, aside from a weakening Japanese yen. Mid week brought varied results, as data results from stateside continued to be hard to come by. Despite this, the currency made significant ground against sterling following the latest Bank of England’s inflation report.

Yesterday, US unemployment claims and job openings figure from the labour market came out behind expectations, while words from a member of the Federal Reserve also caused some negativity.

Posted November 10th, 2014 by Charles Purdy

Poor employment data see the US dollar stutter

The US data releases came to a disappointing end to last week, as one of the final labour market figures came in worse than expected. The ever important non-farm employment change figure came in below expectations, which caused dollar weakness. With the debate over the raising of interest rates still bubbling, this negativity took away some of the support as the overall unemployment rate unexpectedly fell 0.1% to 5.8%.

Meanwhile, US Federal Reserve Chair Janet Yellen stated that all available tools should be used by central banks to deal with low growth and inflation. This week starts slowly, as today holds no major releases.

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