US dollar activity was limited yesterday due to a lack of data releases from the country. As a result, markets were muted as they took their cues from elsewhere. The dollar stayed within a narrow range against sterling, but lost out to a strengthening euro. The only mildly significant figure from the US was that of the factory orders, but this failed to register any impact as it came out as expected.
However, today marks the start of the most important releases for the week for the US, with the labour market taking centre stage. The independent non-farm employment change will be of particular interest, ahead of Friday’s official figure. Immediately following this will be the trade balance and the non-manufacturing Purchasing Managers’ Index (PMI). With this glut of data to digest, there is plenty of opportunity for movements in the market, due to investor sentiments regarding the health of the US economy.
If you are looking to buy or sell US dollars I suggest contacting your trader now for live rates, news and currency-purchasing strategies.