020 7898 0500It was a poor day for the US dollar on Friday, with the all-important Non-Farm Employment Change coming out a lot less than expected. Because of this, talk returned to whether the US Federal Reserve will actually raise interest rates, with BNP Paribas mentioning that these could be pushed back until 2017. Following this release, we saw Average Hourly Earnings data which came out as expected, and the Unemployment Rate, which continued to drop. ISM Manufacturing Purchasing Managers’ Indices (PMIs) also failed to halt the weakness seen, with it dropping to lows not seen since 2014.
We have a quiet week for US data in store for us. Monday will see US Federal Chair Janet Yellen speak; any remarks made regarding the interest rate, and how the Non-Farm Employment Change has affected the central bank’s decision, will be of interest. Wednesday will see the release of JOLTS Job Openings data, which is expecting a small increase on the previous month. Weekly Unemployment claims on Thursday is expected to post another stable figure, and on Friday Consumer Sentiment is expected to indicate a small decrease from the previous month’s figures.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
