Currency Note US Dollar

Will todays US employment data upset the US dollar?

By Smart Currency September 26th, 2013

The US dollar remained relatively quiet yesterday, with few big developments to affect the strength of the currency. New home sales were in line with expectations, while the core durable goods orders was slightly behind its estimate, slightly harming the dollar. Today, unemployment claims are the most important figures expected, especially given that an improving labour market was cited as important in relation to the Federal Reserve tapering its quantitative easing program. Good figures are likely to give backing to the Federal Open Market Committee (FOMC) voting in favour of tapering in October and could cause a reaction in the relative strength of the US dollar. We also have the final second quarter GDP figures, which are currently expected to confirm growth of 2.7%, pending home figures and another member of the FOMC is due to speak. Get in touch with your trader now, to hear an up to the minute price on the US dollar, with data releases liable to be influential.