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Posted September 2nd, 2014 by Charles Purdy

US Dollar quiet during Labour Day holiday

US dollar markets were relatively quiet yesterday, as the Labour Day public holiday meant no activity from stateside. However, the dollar still managed to reach its strongest level in nearly a year against the euro, as the outlook for the Eurozone looked bleaker than that of the US. Elsewhere, the impact of the currency was mixed but little changed across the day.

Today sees the country start its trading week, contributing one piece of significant data which could potentially affect the markets. This comes in the form of the manufacturing Purchasing Managers’ Index (PMI) from the Institute for Supply Management. While catching up from yesterday, investors will be looking to this for some further encouragement that the economy is performing well, in the hope of seeing interest rate rises in the not too distant future.

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 September 1st, 2014 by Charles Purdy

Will US data boost the US Dollar further?

The US dollar closed out last week with a mixed Friday, with no drastic changes in its relative strength. An unexpected fall in consumer spending suggested that households were struggling as wages aren’t increasing as fast, but this was counteracted by a rise in the Purchasing Managers’ Index (PMI) from Chicago. Both this and the consumer sentiment from the University of Michigan were ahead of expectations, giving the dollar some strength and gains against a selection of partners, including the Euro.

This week starts quietly with US markets closed in observation of Labour Day. Tuesday starts activity with the manufacturing PMI from the Institute of Supply Management (ISM) and then from Thursday we see the release of a whole raft of data including key and influential employment data.

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