020 7898 0500Yesterday was a fairly quiet day for the US dollar in terms of data releases, with the only major release the weekly labour data. This result showed a slight increase in those unemployed, but the release was fairly stable overall.
We can expect a very busy day today, thanks to release of Average Hourly Earnings, Non-Farm Employment Change as well as the ISM Manufacturing Purchase Managers Indices (PMI). Average Hourly Earnings is expected to grow for the first time in two months, which will show a positive sign for the US wage growth as a whole. The ISM Manufacturing PMI is expected to post growth for the first time in six months, but it will be the main release of the Non-Farm Employment Change that investors will be keeping a keen eye on. The expectation is that we will see a small drop on the previous month, but any further positivity surrounding this figure could potentially see more calls for another a US interest rate hike in April’s US Federal Reserve meeting.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
