The US dollar had a more disappointing day yesterday, falling against the majority of its most traded partners. This was in part due to the only US data piece of note released, the Consumer Confidence figure coming in below expectations.
The dollar still looks to be ending the year on an overall positive note, however, having made gains against all 31 of its major partners since January 2014. This strength has come largely from quickening growth and subsequent speculation over the raising of interest rates.
We expect a number of further data releases today, on the final day of the year. The most significant of these is likely to be the unemployment claims, with the labour market always a key area to indicate economic strength. Supporting this data are a few smaller points, including the Chicago Purchasing Managers’ Index and the Pending Home sales figure. As such, there is still some opportunity for the dollar move further at the end of a largely successful year.
The US dollar has had a stellar year, so please give us a call to see if on the final day it is ending the year in style.