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

Weekly Demo Trading Contest – Adamant Finance

Weekly Demo Trading Contest – Adamant Finance(0)

Weekly Forex Demo Trading Contest 2017 total amount of the prize fund is 1300USD. We announce traders’ contest for all who want to take part and to gain prizes. Link:  $50 No Deposit Welcome Bonus Link:  Weekly Forex Trading Contest Available to: All new and existing clients. Ending Date: 31 December 2017 Contest offer: Forex

$30 Fx Bonus to Your Account Completely Free – Fidelis

$30 Fx Bonus to Your Account Completely Free – Fidelis(0)

Get $30 No Deposit Fx Bonus Promotion in your Fidelis CM account and start your forex trading career. Open your new trading account with Fidelis CM in a few simple steps and get your $30 Fx Free No Deposit Bonus credited in your account. Link:  $30 Forex No Deposit Bonus Completely Free Available to: All

Free Forex Trading Signals Promotion – Forex Time

Free Forex Trading Signals Promotion – Forex Time(0)

FXTM Free Forex Trading Signals Spotting Trading Opportunities Just Got Easier and Up to 200% Withdrawable Cashback Rebates and get $4 Cashback back for every lot you trade. Link:  Free Forex Trading Signals Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December 2018 Available to: All Customers Bonus Offer: ForexTime

Free MT4 VPS plus 100% Welcome Bonus – FXGiants

Free MT4 VPS plus 100% Welcome Bonus – FXGiants(0)

FXGiants is offering its valued Trader  the exclusive 100% Maximiser Forex Welcome Bonus. Be rewarded with this unique offer and maximise your trading potential with NO limits. Link:  $35 No Deposit Bonus Promotion Link:  100% Maximiser Deposit Bonus. Link:  20% Bonus Advantage up to $2000 Available to: All new trading account Bonus offer: $35 No

$1000 Welcome Deposit Bonus Promotions – eToro

$1000 Welcome Deposit Bonus Promotions – eToro(0)

Get Forex Welcome Deposit Bonus Promotions code by eToro Forex Broker. Trade over 900 global instruments with most advance and friendly trading platform. Link:  Top Copy Trading Social Platforms Link: Up to $1000 Welcome Deposit Bonus Available to: All new account Ending Date: 31 December 2018 Bonus Offer: Get Forex Welcome Deposit Bonus Promotions code

$50 Forex No Deposit Welcome Free Bonus – ForexBull

$50 Forex No Deposit Welcome Free Bonus – ForexBull(0)

$50 Forex No Deposit Welcome Free Bonus is available to all new clients of ForexBull as well as for those who still haven’t got any previous No Deposit Welcome Free Bonuses from the company. Link:  $50 Forex No Deposit Welcome Bonus Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: $50

Forex Global Demo Trading Contest 2017 – AETOS

Forex Global Demo Trading Contest 2017 – AETOS(0)

The AETOS Capital Forex Global Demo Trading Contest 2017, with weekly prizes and overall championship prizes to win! The total prize of the contest is worth $10,000*! Link:  Global Forex Demo Trading Contest Available to: All clients Ending Date: 31 December 2017 Contest offer: Global Forex Demo Trading Contest Top prize worth $10000 As one

100% Double Dynamo Bonus up to $10000 – FXPRIMUS

100% Double Dynamo Bonus up to $10000 – FXPRIMUS(0)

100% Double Dynamo Bonus Forex on up to $10,000 plus up to $4 cash back Rebate Bonus for every lot traded! Be rewarded with this incredible offer which is available for a limited time only Link: 100% Double Dynamo Bonus Available to: All New and Existing Clients Ending Date: 31 December 2018 Bonus offer: 100%

Get 25% Credit Bonus on their first Deposit – HYCM

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

Get 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 2017 Available to:   New Clients only Bonus Offer: 25% Trading Bonus Available on your deposits to New Clients only. This promotion

50% Deposit Bonus and $5 No Deposit Bonus – FortFs

50% Deposit Bonus and $5 No Deposit Bonus – FortFs(0)

Up to 50% Bonus of Every Deposit and $5 Forex No Deposit Welcome Bonus. You Deposited $1000 on your account, chose a 50% bonus and got 500 extra dollars to the initial deposit amount. Link:  Up to 50% Bonus of Every Deposit Link:  $5 Forex No Deposit Welcome Bonus Link:  15% Support Margin Bonus Available

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