Currency Note US Dollar

Lots of US data, expect lots of US Dollar movement

By Ricky Bean September 29th, 2014

The US dollar saw a confident end to the week, strengthening further against the majority of its major partners. The final quarterly growth figures were released, showing that growth stateside has increased faster than a previous estimate. As a result, there was further speculation over interest rate increases in the US, as positive data continues to add pressure for the US Federal Reserve to raise rates. Recent words from central bank members have been cautious, but guidance provided states that the decision will be data driven.

Moving on to this week, there are some minor spending figures are due today, alongside pending home sales. Tomorrow sees some more influential pieces, with the Purchasing Managers’ Index (PMI) preceding consumer confidence data. Wednesday begins the usual start-of-month labour market figures, with the independent non-farm employment change data coming ahead of the official figure later in the week. The day also holds the PMI from the manufacturing sector. Thursday calms down with just some factory orders, but Friday is the busiest of the week. The official non-farm payroll figure is due on this day, which regularly provides high activity in the markets. This will be supported by the unemployment rate, as well as the trade balance. Closing out the week will be the non-manufacturing PMI, and investors will have plenty to mull over after a busy week on the data front.