020 7898 0500US data on Wednesday failed to stimulate much needed positivity, with Personal Spending figures showing mild signs of growth, but still demonstrating a drop compared to the previous month. Personal Income figures also fell against the previous month’s figures, to a 3 month low. The Federal Reserve did announce the results of their stress tests of US banks late in the evening UK time and on the whole these were positive with all banks hitting minimum requirements. Only two failed the worse-case scenario analysis but seemed to be on the right path to achieve these in the future.
Today, we can expect the weekly Unemployment Claims data, which is expecting to post a slight increase on the previous month’s results, as well as US Federal Reserve Member Bullard speaking –anything included in this speech referring to an Interest Rate decision could have an effect on the US dollar and currency markets as a whole.
If you are looking to buy or sell US dollars, contact your trader today for the latest rates, news and to plan a currency strategy.
