Currency Note US Dollar

Is the US Dollar losing its gloss?

By Ricky Bean February 5th, 2015

It was another slow day for the US dollar, which seems to be the theme this week leading up to the non-farm employment change data due on Friday. Wednesday saw the release of the ADP version of the non-farm employment change, which an indicator of the main release on Friday. This showed a figure slightly down on forecast and from the previous month, which caused the US Dollar to weaken slightly against its peers, on nervousness that Friday’s figures will also fail to meet expectations. Also released was the non-manufacturing Purchasing Managers’ Index (PMI), which came out as expected, showing good growth.

Today we see the release of the unemployment claims, another indicator of the non-farm figures on Friday; we will also see trade balance data, which is predicted to show a continuing deficit.