Subscribe to RSS

US Dollar Aiming Higher as Fed Officials Talk Up Rate Hike Prospects

The US Dollar may rose overnight and may continue higher into the week-end as supportive comments from Fed officials fuel 2015 interest rate hike speculation.

Talking Points:

  • US Dollar May Advance as Fed Commentary Bolsters Interest Rate Hike Outlook
  • Upbeat US Data May Buoy Risk Appetite Alongside USD as Growth Fears Ease
  • See Economic Data Releases Directly on Your Charts with the DailyFX News App

The US Dollar turned higher overnight following supportive comments from Federal Reserve Chair Janet Yellen. The US central bank chief said a rate hike in 2015 is “likely appropriate”, adding that most on the FOMC share this view. Yellen chalked up below-target inflation to “transitory factors” and even warned that waiting too long to begin tightening may stoke excessive price growth and leverage.

The Euro and the New Zealand Dollar traded broadly lower. The moves did not seem linked to discrete catalysts, suggesting they represented corrective price action after the two currencies outperformed against their major counterparts in the preceding session.

Looking ahead, a quiet economic calendar in European trading hours is likely to see investors looking ahead to US news-flow. Fed-speak will probably remain in focus, with St. Louis and Kansas City Fed Presidents James Bullard and Esther George due to speak.

Both policymakers will be voting members on the rate-setting FOMC committee in 2016, putting them at the heart of the central bank’s on-coming tightening cycle. Mr Bullard already expressed a hawkish bias earlier in the week and Ms George has tended to lean in a similar direction, suggesting their commentary may offer further support to the greenback.

The final revision of second-quarter US GDP figures as well as September’s service-sector and composite Markit PMI readings are also on tap. Realized data outcomes have shown signs of cautious stabilization relative to consensus forecasts over recent weeks. If this translates into results that underpin the case for a rate increase at the Fed’s October or December meetings, risk sentiment may firm alongside the US unit as global slowdown fears ease. Such a scenario may bode ill for the anti-risk Japanese Yen while boosting sentiment-geared alternatives in the commodity currency bloc.

Critical Levels
CCY Supp 3 Supp 2 Supp 1 Pivot Point Res 1 Res 2 Res 3
EURUSD 1.0968 1.1099 1.1164 1.1230 1.1295 1.1361 1.1492
GBPUSD 1.5068 1.5156 1.5199 1.5244 1.5287 1.5332 1.5420

 

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

50% Deposit Bonus and 10 USD Free Bonus – Hirose UK

50% Deposit Bonus and 10 USD Free Bonus – Hirose UK(0)

50% Deposit Bonus Campaign Maximum Bonus Amount is Unlimited for all customers And 10 USD No Deposit Bonus for Binary Options Campaign is available for new clients who open a Binary Option Account. It’s that simple. Link:  $10 Binary No Deposit Bonus Link:  50% Deposit Bonus Campaign Available to: All new traders Ending Date: 31

$2017 Forex No Deposit Exclusive Bonus – FreshForex

$2017 Forex No Deposit Exclusive Bonus – FreshForex(0)

$2017 HotNo Deposit Exclusive Bonus Offer to all new verified customers. The $2017 Forex No Deposit Bonus offers you a unique opportunity to test trading strategies of FreshForex Link:  $2017 Hot No Deposit Bonus offers Available to: All New Traders. Ending Date: 15 January 2017 Bonus Offer: $2017 Forex No Deposit Exclusive Bonus Offer to

100% Bonus Forex and Binary Options- MarketsYes

100% Bonus Forex and Binary Options- MarketsYes(0)

100% Holiday Cheer Deposit Bonus 2016 Forex / CFD and Binary Options to all New Traders. MarketsYes is glad to offer prospective clients for every deposit up to 1000 USD/EUR/GBP a 100% Holiday Cheer Deposit Bonus Link: 100% Holiday Cheer Deposit Bonus 2016 Link:  $25 Free Bonus Forex / CFD & Binary Options Available to:

$10 Binary Options No Deposit Bonus – Hirose UK

$10 Binary Options No Deposit Bonus – Hirose UK(0)

$10 Binary Options Free No Deposit Bonus Campaign is available for new clients who open a Binary Option Account. It’s that simple. Link: $10 Free No Deposit Bonus Link: 50% First Deposit Bonus Available to: All new Binary Option Account Validity Date: 31 December 2017 Bonus Offer: $10 Binary Options Free No Deposit Bonus Campaign

$30 Free Bonus Plus 30% Deposit Bonus – Ayrex

$30 Free Bonus Plus 30% Deposit Bonus – Ayrex(0)

$30 Binary Options No Deposit Bonus to all New activated Clients. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! This bonus allows you to profit without making an investment and trade binary options risk-free. Link:  $30

$50 Forex No Deposit Bonus Exclusive Offer – FortFS

$50 Forex No Deposit Bonus Exclusive Offer – FortFS(0)

$50 Forex No Deposit Bonus Exclusive Offer to New and Existing Traders. The $50 Forex No Deposit Welcome Bonus can be received within the promotional time period, from 28.11.2016 to 07.12.2016 inclusive. Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Available to: New

$25 Countdown Forex Bonus Promotion 2017 – ForexTime

$25 Countdown Forex Bonus Promotion 2017 – ForexTime(0)

$25 Countdown Forex Bonus Promotion 2017 new and existing will be eligible traders. ForexTime is offering by receive a $25 credit bonus when they make a deposit of $300 into their accounts*. Link:  $25 Countdown Credit Bonus 2017 Link:  Loyalty Cashback Promotions Link:  $4 Cashback back for every lot Ending Date: 31 December 2016 Available

100% US NFP Bonus Promotion December 2016 – Xtrade

100% US NFP Bonus Promotion December 2016 – Xtrade(0)

Up to 100% Deposit Bonus Promotion to All New and Existing Customers. December 2016 US NFP Announcement Deposit NOW $1000 to $5000 and receive 100% bonus! Link:  $50 No Deposit Bonus Promotion Link: 100% Deposit Bonus Promotion Link:  Free Flight Tickets to Madrid Available to: All New and Existing Customers Bonus Ending Date: Valid 01/12

100% Welcome Bonus Plus Risk Free Trade – Trade12

100% Welcome Bonus Plus Risk Free Trade – Trade12(0)

Get 100% Welcome Deposit Bonus and 7-day risk free trade, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:  Get 100% Welcome Bonus Link: 50% Exclusive Deposit Bonus Available to: All new clients Ending Date: 31 December 2016 Bonus Offer: Get 100% Welcome Deposit Bonus Plus 7-day risk

Get 25% Credit Bonus on their first Deposit – HYCM

Get 25% Credit Bonus on their first Deposit – HYCM(0)

25% Credit Bonus available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2016 Available to:   New Clients only Bonus Offer: 25% Trading Bonus Available on your deposits to New Clients only. This promotion is

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories