Currency Note US Dollar

US employment data disappoints

By Smart Currency March 6th, 2014

The US dollar faced mixed fortunes yesterday, seeing varying fortunes across the board. With no consensus on the events in Ukraine and their subsequent implications, investors remained cautious, which allowed the dollar to take advantage of its safe-haven status and gain strength against certain currencies. The US currency didn’t fare as well with regards to data, as two major influential figures missed their expected levels. Non-farm employment change figures came in lower than expected, ahead of Friday’s highly influential non-farm payroll figure, while the non-manufacturing Purchasing Managers’ Index from the Institute for Supply Management also demonstrated lower-than-expected results.

There is less activity from stateside today, with just the one major influential release due. This will come in the form of unemployment claims, which will be supplemented throughout the day with factory orders and words from a member of the Federal Open Market Committee.

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