020 7898 0500A fine end to the week for the dollar following the release of the non-farm payrolls data. The figure had been expected to come in at 180,000 but it actually posted a reading of 200,000 and the dollar strengthened shortly afterwards. It made some significant gains against sterling to reverse a recent trend, but where will it go from here? It is anybody’s guess right now, but certainly something to keep your eyes on.
Today we have non-manufacturing PMI and the balance of trade for December tomorrow. Thursday sees the release of the initial jobless claims up to 3 February 2018 which are expected to hold steady at 230,000. Any improvement on that could support the dollar.
It has been a pretty volatile start to the year and the dollar surge on Friday really does help demonstrate how important risk management strategies can be to your business. Locking in a favourable price protects you against this volatility. We cannot emphasise this point enough!
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
