Subscribe to RSS

US Dollar May Rise as Payrolls Data Boosts Fed Rate Hike Bets

The US Dollar may rise as upbeat payrolls data boosts prospects for an imminent interest rate hike from the Federal Reserve.

Talking Points:

  • US Dollar May Rise as Upbeat Jobs Data Boosts Fed Tightening Outlook

  • Australian Dollar Gains as RBA Policy Statement Weighs on Rate Cut Bets

  • See Economic News Directly on Your Charts with the DailyFX News App

A relatively lackluster economic data docket in European trading hours is likely to see investors looking ahead to July’s US Employment report. An increase of 225,000 in nonfarm payrolls is expected. The unemployment rate is seen holding at 5.3 percent, matching a seven-year low recorded in June.

US economic news-flow has increasingly outperformed relative to expectations since mid-May. That suggests analysts’ models are underestimating the vigor of recovery from the first-quarter downswing, opening the door for an upside surprise.

Such a result is likely to cement bets on a rate increase at the Fed’s September meeting, boosting the US Dollar at the expense of most of its top counterparts. The onset of risk aversion triggered by the prospect of US tightening even as the Eurozone and China remain sluggish, threatening global growth at large, may see outsized losses for commodity-bloc currencies but boost the Japanese Yen.

The Australian Dollar outperformed in overnight trade, rising as much as 0.5 percent on average against its leading counterparts. The move tracked a parallel move higher in front-end bond yields, pointing to ebbing RBA rate hike bets as the drive behind the move.

The improvement in investors’ outlook followed the release of the central bank’s monthly Statement on Monetary Policy. Officials upgraded their inflation outlook and argued that February and May rate cuts still working through into the broad economy, undermining the case for further easing.

Critical Levels
CCY Supp 3 Supp 2 Supp 1 Pivot Point Res 1 Res 2 Res 3
EURUSD 1.0774 1.0844 1.0885 1.0914 1.0955 1.0984 1.1054
GBPUSD 1.5201 1.5370 1.5441 1.5539 1.5610 1.5708 1.5877

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Get a $50 Free Bonus Start Trading Bitcoin – UFX

Get a $50 Free Bonus Start Trading Bitcoin – UFX(0)

Get a $50 Free Bonus Start Trading Bitcoin with UFX. Forex Trading Bitcoin with UFX is simple and gives you the opportunity to increase your return whether BTC prices RISE or FALL Link:  $50 No Deposit Bonus Promotion Link:  $50 Free No Deposit Bitcoin Bonus Link:  Halloween Trick or Trade Competition Link:  100% Real Money

$3500 Free No Deposit Bonus in a Minute – Insta Forex

$3500 Free No Deposit Bonus in a Minute – Insta Forex(0)

Get $3500 Free No Deposit Bonus in a Minute from InstaForex no need to risk your own money if you have already got funds to earn more money. The $3500 Free No Deposit Bonus in a Minute from InstaForex is an exciting opportunity to start Forex live trading. Link:  $500 Forex No Deposit Free Bonus

Forex Circuits Live Trading Contest 2017 – Forex Time

Forex Circuits Live Trading Contest 2017 – Forex Time(0)

ForexTime latest Live Contest Win cash prizes from a $400,000 total prize pool. FX Circuits rewarding clients with real, withdrawable from a $400000 total prize pool.* Link:  FX Circuits Live Trading Contest Link:  Demo Forex Trading Contest Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Available to:   New Clients only Contest Offer: ForexTime

$200 Forex Free No Deposit Pushup Bonus – FreshForex

$200 Forex Free No Deposit Pushup Bonus – FreshForex(0)

FreshForex finally launches long-awaited $200 Forex Free No Deposit Pushup Bonus Broker. With FreshForex new bonus every new client registered with us through special link within promotion period gets $200 to the trading account. Link:  $200 No Deposit Pushup Free Bonus Ending Date: 16 September 2018 Bonus Offer: $200 No Deposit Welcome Pushup Bonus for

$30 No Deposit Forex Welcome Bonus Campaign – Tickmill

$30 No Deposit Forex Welcome Bonus Campaign – Tickmill(0)

$30 No Deposit Forex Welcome Bonus Campaign to All new traders. $30 Free Forex Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  Weekly Demo Race Trading Contest Link:  $30 Free Welcome Bonus Campaign Link:  Forex Monthly Live Trading Contest Available to: All new traders

300% Tradable Bonus plus Free Signals – Markets Yes

300% Tradable Bonus plus Free Signals – Markets Yes(0)

300% Forex Tradable Bonus Promotion and Risk Free Trade plus Forex Free Signals all New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Deposit Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

150% Binary Options Deposit Bonus Promotion – NordFX

150% Binary Options Deposit Bonus Promotion – NordFX(0)

Up to 150% Bonus for a First Time to binary options live trading account. For a perfect start, we offer you a 150% binary options bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Link:  DemoCup contest  prize fund

The Best Indonesian Forex Traders Party – FBS Inc

The Best Indonesian Forex Traders Party – FBS Inc(0)

The Best Indonesian Forex Traders Party 2017. Free tickets for any kind of transport are available only for Indonesian Forex Traders. Link:  The Best Indonesian Traders Party Link:  $123 Free Special Bonus Promotion Link:  100% Deposit Bonus Promotion Link:  $88.8 Lucky No Deposit Required Bonus (for Malaysian traders) Ending Date: 31 December 2018 Bonus Offer:

Win $100 Binary Options No Deposit Bonus – AYREX

Win $100 Binary Options No Deposit Bonus – AYREX(0)

Win $100 Binary Options No Deposit Bonus in just one hour $3600 total monthly prizes. No deposit required Bonus. Open to all AYREX demo account holders created automatically upon registration and used solely for contest participation Link:  Win $100 Binary Options No Deposit Bonus Link:  $30 Binary Options No Deposit Bonus Link:  30% Binary Options Deposit

25 USD Free Cash Bonus No Deposit Required – Xtrade

25 USD Free Cash Bonus No Deposit Required – Xtrade(0)

$25 Free Cash Bonus No Deposit Required plus $30 Account Verification Forex Free Cash Bonus to all eligible clients. Start Forex Trading with Xtrade Broker and Get a $30 plus $25 Free No Deposit Required  Bonus (T&C applied) Link: $25 Free Cash Bonus No Deposit Required Link: $30 Account Verification Free Cash Bonus Link:  60%

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