Currency Note US Dollar

Could today’s employment data spell more negative news for the US dollar?

By Smart Currency May 6th, 2016

It is looking more likely that the release of Non-Farm Employment Change figures today will show a bleaker figure than originally expected, thanks to both other employment figures released this week coming out slightly worse than expected. Wednesday saw the release of the ADP Non-Farm Employment Change at its lowest level for over a year, whereas yesterday’s Weekly Unemployment Change figure reduced expectations significantly that a positive figure will be seen today. Overall the week has been less than a perfect one for data – not only with the lower than expected Employment figures, but also the showing of the ISM Manufacturing Purchase Managers’ Indices which fell short of its expected figure and to a two month low.

Investors will be keeping a keen eye on today’s data in the hope that the Non-Farm Employment Change will in fact post another stable figure – contrary to these earlier releases.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.