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Posted May 8th, 2015 by Charles Purdy

US dollar not being supported by data

Needless to say the main factor affecting the US dollar against sterling this week has been the outcome of the UK general election which saw an immediate boost for sterling as exit polls showed that the Conservatives would stay in power.

Also the US economic data releases, especially over employment, haven’t been as good as hoped for. And today we have the release of the key Non-farm payroll figures for April which are forecast to show an increase of 230,000 but may fall short as the US struggles to recover from a weak first quarter.

One factor behind the poor first quarter was the strength of the US dollar and its effect on exports but it has now fallen more than 5% from the peak it saw against a basket of currencies in March.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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Posted April 27th, 2015 by Charles Purdy

US Dollar under pressure

The US dollar had a difficult week last week and weakened further against sterling and the euro on Friday as core durable goods orders data released showed a contraction in core orders being placed, although the overall figure had grown more than expected.

It will be interesting to see if the US dollar continues to weaken against its peers this week. Growth figures to be released on Wednesday for the first quarter are expected to highlight a tough winter and be close to 1%, much less than the 2.2% for the last quarter of 2014. We also have the latest Federal Reserve meeting the same day.

Posted April 10th, 2015 by Charles Purdy

US Dollar enjoys a good week

The US dollar suffered at the beginning of this week, as it attempted to recover from the poor Non-Farm Employment data from the previous Friday. A small number of Federal Reserve members did speak out in support of the dollar despite this figure, with some still indicating that June would be the month for the first rate lift off. However, this has driven mixed views from other members of the Federal Reserve, with some even wishing to push back the date until 2016.

This week’s positive releases included the Services and Non-manufacturing Purchase Managers Index (PMI), both showing continued growth in the sectors.

Posted March 9th, 2015 by Charles Purdy

US Dollar- Up, up and away

The US dollar continued to strengthen on Friday against the majority of its peers. The spotlight was on the non-farm employment data, and rightly so as the employment change increased against expectations. Unemployment in the US also dropped to 5.5%, a record low since June 2008. Average hourly earnings were down, but this did not have too much of an impact due to the ‘shock’ figure of the employment change; the US Federal Reserve will still keep a keen eye on this figure leading up to the future interest rate decisions.

A quiet start to the week for the US dollar is expected with minimal data releases.

Posted March 6th, 2015 by Charles Purdy

This week’s star performer, the “US Dollar”

It was a challenging Thursday for the US dollar in the lead up to the all-important non-farm employment figures due today. The US currency continued to strengthen against sterling and the euro as investors continue to flock to the safe-haven currency. Data releases did not affect the continued strength from the US dollar, with negative figures all around. Unemployment claims, the weekly indicator for labour data in the US, showed a significant rise in unemployment this week, as well as a negative factory orders figure.

Attention today is on how the Non-Farm Employment will perform. With recent weak indications of employment in the US, a positive figure could shock the US and strengthen the US dollar further.

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