020 7898 0500The US dollar made gains in important markets yesterday, thanks to positive data outweighing the negative. While the trade balance and the independent non-farm employment change figures were behind expectation, the increased non-manufacturing result helped the dollar make ground against a number of key currencies. The US currency fell initially as the non-farm payrolls showed fewer employees added than forecast ahead of Friday’s official figure, but was tamed slightly by the fact that this is arguably the lesser of the two. However, a third consecutive monthly increase from the non-manufacturing figure helped the dollar to a rise against the euro, sterling, and the yen.
Today keeps up the heat, with the ever-important unemployment claims result. Investors are always keen to hear this figure, as they look for encouragement for economic health and subsequent interest rates increases, but the key non-farm payroll data is released tomorrow.
