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Posted December 3rd, 2015 by Charles Purdy

Yellen speaks today – will she lend further support for a US interest rate rise this month?

It was a busy day for the US dollar on Wednesday, with various data releases and further strengthening. The Automatic Data Processing Non-Farm Employment change showed continued growth; this tends to be used as an indicator for Friday’s key release of non-farm payroll changes. We also had positive comments from the Chair of the Federal Reserve Yellen stating that the US economy was in a robust enough state to support an increase in interest rates. This resulted in the US dollar hitting a 12 year high against a basket of its peers.

Today will see the release of the weekly labour data, expecting yet another stable figure. Following this, we will see the Final Services and Non-Manufacturing Purchase Manager’s Indices – both expected to show continued growth in these sectors. Investors will be keeping a keen eye on US Federal Chair Yellen, who speaks later in the afternoon; looking for any comments made regarding any change to the Interest Rate in two weeks’ time.

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 December 2nd, 2015 by Charles Purdy

Will there be any hints about Interest Rates from the US today?

Tuesday was a mixed day for the US dollar, shown in multiple data releases. The ISM Manufacturing Purchasing Managers’ Index (PMI) showed its first contraction since May 2013, leading to worrying signs regarding the manufacturing sector. However construction spending was released shortly after, and showed spending at its highest point since June 2015.

There are a number of US Federal Reserve members speaking in the early afternoon including Chairperson Yellen. Investors will be keeping a keen eye out for any comments relating to Interest Rates, with a decision expected on the 16th of December. We also look forward to the ADP Non-Farm Employment Change, and this tends to be used as an indicator for the main employment release due on Friday, with further growth expected.

Posted November 26th, 2015 by Charles Purdy

Mixed day for US dollar

It was a mixed day for the US dollar in terms of data releases seen on Wednesday. The major release of the day, durable goods data, marked its largest figure in months, with the weekly unemployment claims also showing yet another stable figure. However, personal spending fell just short of the expected figure, failing to […]

Posted November 19th, 2015 by Charles Purdy

US markets slow as investors eagerly await Fed meeting minutes on interest rates

Yesterday was a relatively quiet day for the US Dollar, as investors waited for the release of the US Federal Reserve meeting minutes. Building Permits in the US came out as expected, showing moderate growth, but this did not have much of an impact on the market as the waiting continued. The actual minutes were slightly more ambiguous than expected re. a December increase in US interest rates so we have seen a small amount of US dollar weakness subsequent to their release.

Following yesterday’s meeting minutes, we can look forward to two Federal Reserve members speaking – but they are expected to be for a interest rate increase. In terms of data, the weekly labour data will be released; this is forecast to be yet another stable figure.

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

Posted November 12th, 2015 by Charles Purdy

Eyes and ears on the Federal Reserve today

It was a quiet day for US markets, with Veteran’s Day on Wednesday and banks being closed. The attention now turns to the end of the week. With weekly labour data due out today, the spotlight will be on US Federal Reserve Chair Janet Yellen, who speaks.

With expectations high for a December interest rate rise, investors will be keen to see if there are any comments made by Yellen that might mention or allude to a potential hike. Any related statements or clues could have the opportunity to influence the US dollar market. Following Yellen’s speech, we will also be hearing from three other members of the central bank.

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