It has been a mixed week for the US dollar so far, with various data being released above and below expectations. On Monday we saw the release of both Personal Income and Personal Spending data, which showed continued growth, while on Tuesday we saw Consumer Confidence increase to a one-year high, helping boost the dollar’s performance. However disappointing US manufacturing data on Thursday undermined the dollar as it dampened expectations of an interest rate rise.
It doesn’t end there, as Non-Farm Employment Change data takes centre stage today. Various indicators on Wednesday and Thursday showed that the main release today could potentially post a drop on the previous month’s figures. Also released today is Average Hourly Earnings data, which is expecting to post month-on-month growth for the first time since the start of the year. Anything contrary to expectations could cause movement in US dollar markets.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.