The US dollar appears to have rebounded against its primary currency rivals yesterday and this morning. Solid growth in American retail sales and inflationary figures led many traders to take profit on dollar pairs. A continuation of the US interest rates at <0.25% came as expected and today’s news looks to be positive for the USD as well.
Here is a roundup of today’s leading events:
9:30 GMT: GBP – Claimant Count Change
This report measures the number of individuals claiming unemployment benefits for the first time during the previous month. While it is considered a lagging indicator, it nevertheless carries a strong impact on the GBP market since it is released a month prior to the unemployment rate and thus affects outlook on consumer spending and growth.
14:00 GMT: USD – TIC Long-Term Purchases
The Treasury International Capital (TIC) report measures the difference between foreign capital purchased by US investors and US capital purchased by foreign investors. Its intention is to measure investment flows into and out of the United States. The higher the reading, the more money is flowing into the US relative to the amount of money flowing out of the US, and thus indicates higher demand for the US dollar.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
