020 7898 0500The US dollar ended last week with some slight gains in key areas, thanks to encouragement from the labour market. The non-farm employment change showed that US employers added jobs last month, providing further evidence that the economy is recovering. However, this figure was relatively close to estimated levels, despite Wednesday’s independent version missing its expected level, and as such failed to have as large an impact, as is often the case. Alongside this, the unemployment rate held no surprises as it held at its record low, but gave continued hope of an interest rate increase sooner than currently being predicted.
The start of this week is quiet, with only the job openings data due tomorrow which may be of mild interest. Wednesday brings a few more minor events, including the Federal Budget Balance. We must wait until Thursday, however, for influential releases from stateside, with both retail sales and the unemployment claims figures scheduled. Friday then brings the final two pieces of data, first with the Producers’ Price Index (PPI), then the preliminary consumer sentiment figure from the University of Michigan.
