020 7898 0500The Dollar Index (DXY) fell from 97.30 to 96.50 during Thursday’s session; this was primarily due to the release of negative data: initial jobless claims figures were released at 285,000, compared to last month’s 277,000 and the expected 280,000, and factory orders fell from -0.7% on November to -2.9% in December.
It has been a tough week for the US dollar as poorish data has reduced expectations of four US interest rate rises this year. Exports from manufacturers are being particularly badly hit by the strong US dollar.
Today is a big day for the American currency as the January Non-Farm Payroll figure are to be released. The previous figure was 292,000, today’s reading is expected to fall to 190,000. We will also see the release of another key indicator: the January unemployment rate which is expected to hold at 5%.
