• About Us
  • Authors
  • Currency Charts
  • Live Exchange Rates
  • Contact Us

Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

  • British Sterling
  • Euro
  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Brexit News
You are here: Home / US Dollar / USD Exchange Rates Ahead of PMI and Housing Data

USD Exchange Rates Ahead of PMI and Housing Data

February 24, 2016 by Tom Higham

USD Exchange Rates Ahead of PMI and Housing Data

united-states-map-dollarIt is set to be another busy day for the US Dollar (USD) with a raft of economic data due to be released. First up we have mortgage applications which will give us a good indication as to how the US housing market is performing, this is set to be followed by New Homes Sales later on in the afternoon trading session which will make the picture even clearer. The expectation is that we will see a slight decline in the number of new homes sold but with recent US data sets performing relatively well and several beating expectations I would not be surprised to see the housing figures exceed the predictions and therefore provide more USD strength.

We also have the latest set of Purchasing Managers Index (PMI) data. This data set provides an indication of business conditions in the services sector which accounts for a large part of US Gross Domestic Product and therefore is a very important announcement. It is expected that we will see an improvement in the figures and with the recent positive economic news coming out of the World’s largest economy this may really help provide yet more support for the Dollar and add more fuel to the fire that Janet Yellen and the rest of the Federal Reserve Bank of America will raise interest rates again in the coming months.

Finally, we are set for the latest Oil stocks change and with the huge price fluctuations over the previous months, this will be an interesting announcement. The States are a net importer of oil as they use more than they export and so when oil prices go up it can hamper growth in the US but when it falls it can really help the US economy flourish, so with low oil prices following the lifting of the sanctions on Iran I expect this to be a strong data set for the US and therefore could again provide support for the US Dollar.

Filed Under: US Dollar Tagged With: mortgage, PMI

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

About Tom Higham

Tom Higham is Managing Director at currencies.co.uk, a leading currency exchange brokerage. He has vast experience of the currency exchange market, having previously worked as a currency broker and in related financial services roles for over 10 years. Tom has been quoted in the national press on numerous occasions, including the Telegraph, the Sunday Times and A Place In The Sun.

Recent Posts

  • Sterling finds support but unlikely to make any significant impact in the coming days May 9, 2018
  • US Dollar hits 5 month high against Sterling May 2, 2018
  • Sterling exchange rates at the mercy of political developments May 1, 2018
  • Pound weakens as political uncertainty once again raises its head May 1, 2018
  • Will Mario Draghi’s speech impact GBP/EUR? April 26, 2018

Live Exchange Rates

Archives




Copyright © 2021 — Currency.co.uk • All rights reserved. • Exchange Rate Forecasts • Privacy Policy •

We use cookies to ensure that we give you the best experience on our website. By using this site you agree to receiving cookies.I agreeRead Privacy Policy