020 7898 0500Friday seemed to have followed in line with the majority of last week, with the movements in the day seen being driven by sterling. The only major data release was the ISM Manufacturing Purchasing Managers’ Index (PMI), which beat expectations to rise to a yearly high.
With a quiet start to this week for US data, we can look forward to the ISM Non-Manufacturing PMI data, which is expected to post a similar figure to last week’s manufacturing version. In the evening, we can expect the US Federal Reserve minutes from their last meeting, which should show us where the members stand in terms of a possible interest rate hike this year.
On Thursday we have both the ADP Non-Farm Employment Change and weekly unemployment claims, with both widely used as an indication to the main release on Friday. The Non-Farm Employment Change on Friday is expected to dwarf the previous figure, rising to three-month highs. Along with this release we also expect Average Hourly Earnings figures, which are expected to remain at a similar level to the previous months’. Any surprises from the data front this week could cause US dollar movement, as could the continued uncertainty surrounding the Brexit in the UK.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
