Currency Note US Dollar

US dollar under pressure, will todays data reverse the trend?

By Ricky Bean December 4th, 2013

The US dollar had a subdued day yesterday with little going on in the country to vastly affect the markets. Losses were made for the fifth day out of the last six against sterling, driven by strength from the UK side. Investors were looking forward to a raft of labour data released over the next three days, the first of which is the ADP Non-Farm Employment Change statistics released today.  Other data released today includes trade balance figures, non-manufacturing Purchasing Manager Index (PMI)  and the new home sales. With an improving labour market high on the Federal Reserve’s list of key areas for the central bank to consider tapering its quantitative easing, todays employment figures will be of particular interest – especially as it acts as an indicator to the highly influential Non-Farm Employment Change figures released on Friday alongside data showing the overall rate of unemployment in the county. Get in touch with your trader for the latest on the US dollar, on a key day for the American currency.