Currency Note US Dollar

US Dollar weakens as Obama talks it down

By Ricky Bean June 9th, 2015

It was a very quiet day for the US dollar on Monday, with no data releases to note. Earlier comments made by a French official, suggesting that US President Obama had advised that a strong US dollar is a problem, were dampened down by US officials. This managed to weaken the US dollar slightly, but it was still continuing to trade at levels similar to last Friday’s against sterling and the euro.

With minimal data releases today, the attention shifts to the JOLTS job openings (The only data release to note). Expectations are of an increase which would move in line with the growth in the employment market as per last week’s non-farm employment data.

However, the spotlight this week will be on retail sale figures on Friday. Growth is expected in this sector, but a low figure could suggest the public holding back on spending in anticipation of a possible hike in interest rates.