020 7898 0500It was a poor Friday for the US dollar, as data releases failed to post any strength. The advance Gross Domestic Product (GDP) figure – a measure of growth – fell short of forecasts, leaving the US Dollar to post losses against the majority of currencies.
Today we will see the ISM Manufacturing Purchasing Managers Index, where a stable figure is expected. Alongside this, we also have construction spending data. Personal spending data on Tuesday is due to post a slight decrease on the previous month, while Personal income expected to see a small increase. If this is the case, these could potentially affect inflation, as cautioned by the US Federal Reserve in last week’ comments.
Friday sees non-farm employment change figures. These are preceded by indicators of the final amount, out on Wednesday and Thursday. Both indicators are expected to post stable figures, while the main release on Friday is forecast to see a sharp drop from the previous month. This could lead to calls for the Federal Reserve to keep interest rates on hold.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
