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Posted October 20th, 2014 by Charles Purdy

Uncertainty over the future of quantitative easing increases

The US dollar had a mixed day to end last week, with varying data and outlook affecting the markets. With little of particular significance, the dollar stayed within a narrow range against most of its major peers. Data on the day was mostly positive, as the building permits figures were as expected and the consumer sentiment ahead of expectations. However, the dollar failed to make significant ground thanks to increasing negativity over the longer-term outlook. With continued reaction to Federal Reserve member Bullard’s cautionary words that quantitative easing should be extended, investors looked to central bank Chair Janet Yellen as she spoke in Boston to see if she commented on policy. However, she discussed neither policy nor economic otlook, leaving little for investors to dissect.

This week starts slowly for the dollar, with the first event not due until mid-week. Wednesday will see the key inflation data in the form of a Consumer Price Index (CPI), which is significant given the recent caution. Thursday returns to the labour market, with the unemployment claims figure scheduled as the only major release, before Friday gives us new home sales figures. With data thin on the ground, these could prove important for the week, as investors will scrutinise these results for clues as to the possibility of future prospects.

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 August 26th, 2014 by Charles Purdy

US Dollar stays strong

The US dollar had a mostly positive end to last week, thanks to some encouragement by the US Federal Reserve Chair Janet Yellen. In a speech at the Jackson Hole Symposium, Ms Yellen’s address paid particular attention to the labour market. She made note of the past five years’ gains, throughout the economic recovery, while also maintaining some slack at present. As a result, the dollar rose to an 11-month high against the euro.

Yesterday saw the new home sales released from the US, while today continues events with both the core durable goods orders and the consumer confidence by the Conference Board.

Posted July 15th, 2014 by Charles Purdy

The US awaits Janet Yellen’ testimony

The US dollar had a fairly positive start to the week, strengthening significantly against a weakening sterling, whilst also advancing against the Japanese yen.

A busy day for the US today, with a number of key events that could affect currency markets. First, we will see the release of the monthly retail sales figures which are expected to show a slight increase. Following this, the US Federal Reserve Chair Janet Yellen is due to speak in front of the Senate Banking Committee in Washington. Investors will look for any clues concerning her plans for future monetary policy and most importantly, when we can expect interest rates to rise.

Posted May 19th, 2014 by Charles Purdy

US dollar just about holdings its own

The US dollar ended last week with little major action of note from stateside to trigger a single shift. The US currency fell against a strengthening sterling, but did end up higher against the euro. Data from the US was mixed, as building permits came out ahead of expectations, before the Consumer Sentiment figure from the University of Michigan missed its anticipated level to reverse the optimism. The start of this week is a subdued one on the dollar front, with just words from members of the Federal Open Market Committee relating to the US.

Wednesday will see the first and most significant event of the week, as a speech from US Federal Chair Janet Yellen precedes the minutes from their latest meeting.

Posted April 15th, 2014 by Charles Purdy

US retail data boosts confidence in US economy

The US dollar had a largely positive day to start the week yesterday, strengthening against many major currencies, although not against sterling. The US currency rose following better-than-expected retail sales figures, the first in a raft of releases for the week. This figure showed the biggest rise since September 2009, which, coupled with events from the Eurozone, saw the dollar hit its highest point in almost 3 weeks against the multi-nation currency.

Today, it is the core inflation figure from the US that will be of most influence over the dollar markets, as investors look for further indications as to the state of the economy.

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