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Posted September 12th, 2013 by Charles Purdy

US dollar continues to lose ground

Once again, the US dollar suffered losses yesterday due to the indirect external influence of the situation in Syria. With no economic data of note out from stateside, it was news that any military action may have at least been delayed by President Obama that caused dollar weakness as investors needs for the so-called safe haven assets such as the US dollar to diminished. This suspected de-escalation of the Syria situation is having the expected effect on the market, and as such any further developments will be reflected in the strengths of the involved currencies. Today, unemployment claims from the US is the main event likely to affect the US dollar, alongside the any developments over in Syria. Any positive economic data – especially from the labour market – is likely to see the resurgence of speculation surrounding the Federal Reserve tapering its quantitative easing program – namely, when it will commence and how aggressive the tapering will be. Get in touch with your trader now for the latest price on the US dollar, amid possible volatile times for the currency.

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Posted September 10th, 2013 by Charles Purdy

US dollar loses ground

The US dollar had a less than impressive day yesterday, which saw it suffer losses against all but one of its 16 major partners, the Japanese yen being the exception. With no economic data to prompt any changes in the currency, the market took its lead…

Posted September 6th, 2013 by Charles Purdy

US employment figures to be released today

The US dollar traded on the side-line’s at the beginning of the week as the US markets were shut in accordance of the Labour Day bank holiday. Unrest in Syria was also at the forefront of investor’s minds, helping the safe haven currency as they looked to lower their risk by buying the so-called safe haven currency. Tuesday brought the news that the manufacturing sector had reached better than expected levels, expanding at the fastest rate since June 2011, buoying the currency, as speculation increases as to when the Federal Reserve may commerce tapering its quantitative easing program. Strong Chinese economic data released early Wednesday morning then weakened the US dollar, as risk appetite returned to the market. Yesterday saw an upturn for the currency, thanks to both unemployment claims and non-manufacturing index data being better than expected. Today we will see the release of the crucial non-farm employment change figures alongside the overall unemployment rate. This will be watched extremely closely by investors in light of the central bank’s comments which directly links tapering to an improving labour market. Call your trader now for an up to the minute price on the US dollar, as the busy week continues.

Posted August 30th, 2013 by Charles Purdy

US dollar strengthens as fears of Syrian concerns mounts

Developments in Syria helped the US dollar to strengthen through the course of the week in spite of mixed data being released. As the threat of military action looms (although this threat subsided somewhat yesterday), investors have been looking to what are seen as the safer currencies – of which the US dollar is one – in order to minimise their risk. As such, we have seen the US dollar make decent gains against most of its partners throughout the course of the week. Data from the country this week has been mixed, with pending home sales and core durable goods orders being behind estimates, while consumer confidence and preliminary GDP came in ahead of predictions. Following the Federal Open Market Committees (FOMC) minutes released last week, all data becomes important as it influences the possibility of the Federal Reserve tapering its quantitative easing program, which many feel may well commence as early as next month. As such, the comments coming from the speech made by one of the members of the FOMC today may well influence the market. Furthermore, we have consumer sentiment figures, inflation data and personal spending data released. Get in touch with your trader now for the latest rates on the US dollar, as both internal and external factors affect it.

Posted August 28th, 2013 by Charles Purdy

Concerns over Syria and consumer confidence data creates volatility for the US dollar

Yesterday was a mixed day for the US dollar, as fears of the crisis in Syria escalating further were met alongside consumer confidence data which came in better than expected. The US dollar rallied somewhat due to its perceived safe haven status with t…

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