Yesterday was a quietly disappointing one for the US currency, as economic data was scarce. With no data to talk of from stateside, the currency fell, thanks to uncertainty over timescales for interest rate rises. While Friday’s headline unemployment figures had strengthened the dollar considerably, some other figures revealed the uneven nature of the labour market. As a result, the debate against imminent rises gained some support, causing the dollar to weaken against the majority of its major peers.
Today will see some increased activity in terms of data releases, in the shape of the job openings figure. Following on from this, two members of the Federal Open Market Committee (FOMC) are due to speak. Given the varying outlooks on an interest rate decision, investors will be keen to glean any clues from both of these events as to when any movement might be expected for the US dollar.