Currency Note US Dollar

Strong data in the US pushes the dollar ahead against both its main rivals

By Ricky Bean November 5th, 2015

Wednesday was another positive day for the US dollar, as it strengthened over a cent against the euro and gain ground against sterling. This was essentially down to a stable figure from the Automatic Data Procession (ADP) Non-farm employment change, and better than expected Trade Balance and ISM Non-manufacturing Purchase managers indices (PMI). We also had Janet Yellen, Chairman of the Federal Reserve, in her testimony to a Congressional Committee that a December increase in US interest rates was a “possibility”

Today we can look forward to weekly labour data, also expected to be another stable figure in the lead up to the Non-Farm Employment change release on Friday. Various US Federal Reserve members are also speaking, including Fischer, Dudley and Lockhart who have recently giving Hawkish views regarding a possible interest rate rise in the short term.