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04/ 01/ 2017
Better than expected data from the USA helped US Dollar extend its gains made over its major rivals. The ISM Manufacturing PMI jumped by 1.5 points to 54.7, better than the 53.2 predicted.
The ISM prices paid component jumped to 65.5 which was better than the 55.5 prediction. Also, the employment component is looking good with 53.1 instead of 52.5 expected. This is a positive sign for Friday’s Non-Farm Payrolls report.
03/ 01/ 2017
The dollar recovered from a two-week low against a basket of six major currencies on Monday, though trade was thin due to many markets being closed for the new year holiday.
The greenback soared to 14-year highs in December, boosted by market expectations that the U.S. Fed will hike rates as many as three times this year, and that president-elect Donald Trump will stoke growth and inflation with a programme of fiscal expansion.
02/ 01/ 2017
The dollar declined against a basket of the other major currencies on last friday of 2016 as traders took profits in the wake of a late year rally that propelled the greenback to 14-year highs. Market liquidity will be very low at the start of this week, maintaining the risk of erratic market movements but liquidity will improve rapidly during the week.
The US ISM releases & Non-farm payroll reports will be important during the week, with the inflation and export trends watched closely within the data. Politically, the UK Supreme Court ruling on parliamentary involvement in the Brexit process could be issued during the week and wider Brexit issues will return to prominence. Market attention will also focus much more closely on the incoming US Administration with Trump due to be sworn in on January 20th.
29/ 12/ 2016
The surprise decline in pending home sales combined with a sharp drop in U.S. yields sent the dollar tumbling against the Japanese Yen. However even with this decline the greenback managed to end the day in positive territory versus euro, sterling and Swiss Franc.
The worst performing currency yesterday was the euro but thanks to a late day U.S. dollar sell-off, the EUR/AED pair managed to hold above 3.83.
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