020 7898 0500It was a quiet day for the US dollar on Friday, with no data releases. This week, however, we can expect quite a busy week with key data releases due.
Tuesday will see the release of the ISM Manufacturing Purchasing Managers’ Indices (PMIs), which are expected to show continued growth from the recently underperforming sector. The key non-farm employment change figure is released on Friday, preceded on Wednesday by the ADP employment survey and on Thursday by the November initial claims figures. Investors will be watching Friday with a keen eye, as non-farm Employment change figures, which are expected to show a slight decline on the previous month’s data, are a key driver in higher US interest rates.
The spotlight this week will also shine on speeches from Federal Reserve Chair Janet Yellen on Wednesday, as well as a testimony from her on Thursday. This could provide investors with more information regarding a potential interest rate hike before the year-end – any such information could have a significant impact on dollar markets.
