020 7898 0500Friday closed out the US dollar’s week in quiet fashion, with no drastic events to impact the markets although debt worries were at the forefront of traders’ minds. The Republicans and Democrats have failed to come to an agreement regarding the US budget over the weekend and as a result it is looking increasingly likely that tonight we will see a US government shutdown for the first time in 17 years. Investors will have to wait until tomorrow for the first piece of important data outside of the developments regarding the budget, which will be the manufacturing purchasing managers index (PMI) data from the Institute for Supply Management. Moving to the middle of the week, on Wednesday we have the ADP non-farm employment change, and on Thursday we have the non-manufacturing PMI and the weekly unemployment claims. On Friday we have the highly influential non-farm employment change and the overall unemployment rate – with an improving labour market heavily linked to the Federal Reserve commencing its tapering program – these figures could spark a significant reaction in the market. Call your trader now for the latest US dollar rates, at the start of a bottom heavy week.
