It was a disappointing day for the US dollar on Friday. Month-end flows and poor data releases pushed the US currency to retrace its gains from earlier in the week. Personal Spending and Personal Income just barely showed growth; both figures were also just short of expectations, which led to the US dollar weakening a cent against both sterling and euro.
We can look forward to yet another busy week for the US dollar. Monday will see the release of the ISM manufacturing Purchasing Managers’ Index (PMI) data, which is expected to show very limited growth. Wednesday will see the release of trade balance, the non-manufacturing PMI figures and the ADP non-farm employment change which is used as an indicator for the main release on Friday. The main focus though this week will be on the non-farm employment change on Friday which is expected to show strong growth in the employment sector.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.