Currency Note US Dollar

US data broadly supports the US dollar

By Smart Currency June 5th, 2014

The 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.