Currency Note US Dollar

US Dollar quiet during Labour Day holiday

By Ricky Bean September 2nd, 2014

US dollar markets were relatively quiet yesterday, as the Labour Day public holiday meant no activity from stateside. However, the dollar still managed to reach its strongest level in nearly a year against the euro, as the outlook for the Eurozone looked bleaker than that of the US. Elsewhere, the impact of the currency was mixed but little changed across the day.

Today sees the country start its trading week, contributing one piece of significant data which could potentially affect the markets. This comes in the form of the manufacturing Purchasing Managers’ Index (PMI) from the Institute for Supply Management. While catching up from yesterday, investors will be looking to this for some further encouragement that the economy is performing well, in the hope of seeing interest rate rises in the not too distant future.