020 7898 0500Monday was seen as a negative day for the US dollar due to the release of less than forecast data. We saw the ISM Manufacturing Purchase Managers Indices (PMI) fall slightly against the expected and the previous month, while Construction spending contracted for the third month in a row. As a result of this, the US interest rate is still under the spotlight, with further talk regarding the lowly expectation of the Non-Farm Employment Change on Friday.
We can look forward to Personal Spending and Personal Income today, which are both expected to post stable figures. However, if we see a continued trend in recent data, and a drop in both of these figures we can expect the US dollar to weaken further against the majority of currencies.
If you are looking to buy or sell dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
