Currency Note US Dollar

Slow week for the US dollar but positive job data provides a boost

By Ricky Bean June 10th, 2016

It has been a quiet week for US data, with most of the US dollar’s movements dictated by sterling once again. Following on from last Friday’s poor Non-Farm Employment change, Yellen spoke on Monday to expressing concern about the recent hiring slowdown – and was clear that this all but put a possible June interest rate hike off the table. However on Wednesday, we experienced an increase in Job Openings JOLTs, and this suggested that jobs are available. This brought good news for the American currency, alongside positive figures for Thursday’s weekly unemployment change.

Today we can only look forward to the Consumer Sentiment data, expected to show a slight decrease on the previous month.

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