Despite last week’s poor employment data the US Dollar gains ground

A quiet Tuesday for the US dollar saw it attempt to recover from Friday’s disappointing Non-Farm Employment data, a much more pitiful figure than what was expected – although it was slightly strengthened by a small increase on the Job Openings data. Friday’s low employment figure encouraged Federal Reserve Member Kockerlakota to confirm his belief that a potential rate rise should now be delayed until the second half of 2016, and that that the US could continue quantitative easing if the slowdown in the US economy continues.

Today, we have another Federal Reserve member Dudley speaking, and it will be interesting to see how he feels last Friday’s Employment data has affected a potential interest rate rise. In addition to this, Crude Oil Inventories are released and the latest Federal Reserve Meeting Minutes.