USD: mixed end to the week for the US, but, on the whole, quite positive

The dollar climbed against the euro and more-or-less stayed the same against sterling following some key data releases from the UK and US. While the UK could celebrate some better-than-expected services PMI figures, America’s jobless rate fell to its lowest mark for 17 years.

Wage growth came in below forecast and sank to 0.0% from 0.5% month-on-month, and non-farm payrolls were shown to have increased by 261,000 in October against a market expectation of a 310,000 increase. Perhaps the most impressive release was the non-manufacturing PMI, which increased to 60.1 in October from 59.8 in September. Analysts had predicted it would be at 58.5 and, given any figure over 50.0 shows growth, it should serve to cement expectations of an interest rate rise when the Federal Reserve meet in December.

We have the jobless claims on Thursday and on Friday, we have the Michigan consumer sentiment. Other than that, it is a fairly quiet week, as attention will be tuned to the eurozone releases throughout the week.

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