020 7898 0500Yesterday we saw the release of Initial Jobless claims figures, which were better than expected, at 254,000 compared to previous of 270,000, as well as positive ADP employment change figures, which were 172,000 compared to the previous of 168,000. These both indicate a good state of affairs for the US economy, which helped the US dollar strengthen against sterling. Since the release of Tuesday’s FED Reserve Minutes, we had seen the dollar narrowly trading against sterling due to the fall in the likeliness of a US interest rate hike in December.
Today all eyes will be on US non-farm payroll which is expected to be four times better than last month figures of 38,000, which the worst since September 2011. An improvement in employment figures would strengthen the US dollar and cause movement in the currency against its rivals.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
