The US dollar continued the week’s trend of varied results on Friday, with data from stateside on the quiet side. The biggest movement came against the euro, where the dollar weakened following positive data from Germany.
A very busy week for US data starting today with minor data in the shape of the Chicago Purchasing Managers’ Index (PMI), as well as words from Federal Reserve Chairwoman Janet Yellen, which are likely to be more influential. Tomorrow then brings the March purchasing managers’ indices (PMI) for manufacturing, before Wednesday’s independent non-farm employment change figure. More data on Thursday with the release of trade balance figures, labour data in the form of unemployment claims plus the non-manufacturing PMI. Friday could well be the most important for the dollar, as the ever-anticipated official non-farm employment change is released alongside the unemployment rate in the crucial labour market. These many types of data are indicators of economic health, the result of which will be reflected in the strengthening or weakening of the US dollar against other currencies.
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