Currency Note US Dollar

Will key employment data support the dollar?

By Ricky Bean October 22nd, 2013

After last week’s torrid time for the American currency, yesterday saw the ship steadied somewhat, as the reaction to the government shut down had largely subsided for the time being. As such, data began to return to its spot as the most influential input, and the sole release of the day for the US dollar was the existing home sales. Whilst this failed to hit its anticipated levels, the dollar managed to not lose out too much on the back of it, with today’s jobs figures higher on investors agenda. We will today hear the unemployment rate and the non-farm employment change which are very influential indicators of the economy’s health. Hence, yesterday’s speculation that these would show hiring had increased last month helped to keep the dollar’s head above water. Call your trader now for the latest US dollar prices, as it relies on data to pull it up from its current dip.