US Dollar trades on the side-line’s due to Labour Day bank holiday
By Ricky Bean September 3rd, 2013
While the US markets were shut yesterday in accordance to the Labour Day bank holiday, this meant the foreign exchange market lost a large degree of liquidity, leading to greater volatility, giving the market more extreme short term gains and losses. As well as the on-going uncertainty in Syria having an effect on the relative strength of the US dollar, we also have a raft of important data released this week which could cause significant volatility in the market. September has been widely touted as the month when the Federal Reserve would start to taper off its quantitative easing program, as a result, data released in the next few weeks will cause exaggerated movements for the US dollar as investors bet on the outcome of this month’s vote. The first indicator of many this week will come later today, in the shape of manufacturing index data. Call your trader now to hear up to the minute prices on the US dollar, as it prepares for a busy week.