020 7898 0500Overall, it was a fairly static day for the US dollar, with data releases coming out as expected. The ADP Non-Farm Employment Change data showed a very small drop against the previous month; these figures are widely used as an indicator of the results of Friday’s Non-Farm Employment Change release which is considered the key release for this week.
Against a basket of major currencies, the US dollar is at its lowest level since October of last year and until we get greater clarity on the timing for interest rate increases it is difficult to see any change to this “relative” weakness.
Today we will see the release of the weekly labour data, which again is used as an indication leading up towards the main Employment figures due tomorrow. We expect yet another stable figure. US Federal Reserve Member Dudley is also set to speak; anything interest rate-related is sure to have an impact on the market.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
