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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.

Posted September 2nd, 2013 by Charles Purdy

A bank holiday in the US today, but employment data later this week will be closely scrutinised

The US dollar performed well on Friday in spite of data falling short of market expectations. The US dollar strengthened before the weekend as investors looked to buy safer haven currencies due to the uncertainty surrounding the on-going crisis in Syria. This move came despite personal spending and personal income figures falling short of analyst predictions, although, consumer sentiment figures were strong. It is the labour day bank holiday in the US today, as a result, liquidity will be low and could well cause increased volatility in the market. Data released out of the US this week includes manufacturing and non-manufacturing PMI figures, trade balance data and a raft of unemployment data which includes the highly influential non – farm pay roll data which will be announced on Friday and is always watched extremely closely by investors. With both positive and negative data coming from the US recently, investors will pay extra close attention to the figures released this week as they try to predict when the Federal Reserve will start to taper its quantitative easing program. Get the latest news by calling in.

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