The US dollar performed well on Friday with risk aversion driving the market. Investors bought the US dollar – deemed to be a safe haven in times of crisis – as fears surrounding the emerging markets continued to dominate the headlines. On the data front, consumer sentiment figures came out largely as expected whilst household purchases rose by 0.4%.
Out this week are purchasing managers’ index figures for both the manufacturing and services sector. We also have a raft of labour data released over the coming week, the first of which is the ADP Non-Farm Employment Change statistics released on Wednesday, which acts as a precursor to the highly influential Non-Farm Employment Change figures on Friday – the latter are released alongside data showing the overall rate of unemployment in the country.
Thinking of buying or selling US dollars? Get in touch with your trader for live rates You can also opt for a forward contract, which allows you to reserve rates when they are good, for purchase at a later date. For more information, speak to your trader now.