020 7898 0500The US dollar (USD) gained support throughout the day, in comparison to the start of the week. Specifically against the British pound (GBP), after Manufacturing Production data from the UK came in well below the forecast figure of 0.2% at -0.9%. Meanwhile, job openings in the US came in as expected at 5.53 million, while Crude Oil Inventories fell by 2.4 million. This would suggest either demand for oil has increased or oil supply has reduced. Given that the US dollar is negatively correlated against oil, investors will be keen to see what impact this will have on the US dollar if this continues.
Today we have unemployment claims data coming out of the US, which is forecast to hit 272,000, compared to the previous months figure which read 268,000.
