Currency Note US Dollar

Key employment data released today, will the dollar benefit?

By Ricky Bean February 5th, 2014

The US dollar had a quiet day yesterday, as data from stateside was sparse. Factory orders was the biggest release of the day, but even though the figure beat expectations they were viewed as being disappointing and had little significant impact on markets.

Today we see some more noteworthy data, firstly in the form of the non-farm employment change figures. These independent figure provides an interesting precursor to Friday’s official figure, given the importance of the labour market. Later on, we also have the non-manufacturing variety of the purchasing managers’ index (PMI) from the Institute for Supply Management, in addition to speeches from a few members of the Federal Open Market Committee. As such, we could see further volatility in the currency markets, depending very much on how these results pan out.

Thinking of buying or selling US dollars? Get in touch with your trader for the latest US dollar rates, ahead of a slightly more active day.