Currency Note US Dollar

Good data helps the US dollar spring back on Friday

By Ricky Bean April 4th, 2016

The US dollar showed some strength on Friday thanks for positive data releases. Average Hourly earnings posted better growth than expected for the first time in two months, but the main release of the day however was the Non-Farm Employment change – and this once again was better than expected, 215,000 against an expected 200,000, showing positive growth in the sector. These are two key data releases the US Federal Reserve will be pleased about heading into April’s Federal Reserve Meeting.

Last week was a big one for data releases, but we can expect the opposite this week. Tuesday will see the release of the ISM Non-Manufacturing Purchase Managers’ Indices, and this is expected to post further growth. Wednesday we expect to see the Federal Reserve minutes from their most recent meeting, and this should give us a clearer idea of how each members deem a short-term Interest Rate hike. Following this we will see the release of weekly labor data on Thursday, expected to remain stable, followed by US Federal Chair Yellen speaking.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.