US Federal Reserve minutes to set the tone

The US dollar showed further strength on Tuesday thanks to the ISM Non-Manufacturing Purchasing Managers’ Indices (PMIs), which showed further growth for in the sector, the highest level in three months. The JOLTS Job Openings data, however, showed a weak figure dropping to its lowest figure in three months.

We can look forward to a busy day today, with members of the US Federal Reserve speaking before and after the release of the minutes from the latest Federal Reserve meeting. The minutes will show in detail members’ views on a possible interest rate rise, which could have a significant effect 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.