Currency Note US Dollar

US data supports possibility of early tapering

By Ricky Bean November 6th, 2013

The US dollar performed relatively well yesterday, following the release of the ISM non-manufacturing Purchasing Managers Index (PMI) data from the US. This report – a measure of its service industry – exceeded market estimates and in turn put more weight behind the Federal Reserve potentially tapering its quantitative easing program at Decembers central bank meeting. Today will see some traditionally less influential data released, but the focus on the US will be on the preliminary growth figures released on Thursday and then the overall rate of unemployment and the highly influential non-farm employment change figures released on Friday. Call your trader now for the latest rates on the US dollar.