020 7898 0500Friday saw much better than expected Non-Farm Payrolls data released with 287,000 being created. Much better than the 25,000 we saw in May. But this enormous change shows that not too much weight should be placed on the jobs reports as they can be incredibly volatile. However, after some initial volatility (most likely due to speculative trading), the dollar did make some gains.
This week there is some important data and minutes as we have UK inflation reports on Tuesday and, crucially, Bank of England (BoE) minutes on Thursday which are both expected to have a heavy impact on all markets. Retail sales data from the US may also tell on the dollar as they are expected to fall from 0.5% to 0.1%.
If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency purchasing strategies.
