USD
The Greenback remains underpinned by rising expectations of a Federal Reserve (Fed) rate hike at the December meeting and speculations over the implementation of the tax reform by the Trump administration at some point in Q4, all rendering occasional dips in USD as shallow. Similarly, the surprise drop in September’s headline payrolls figure was largely due to temporary disruption from weather factors, and is unlikely to distract the Fed from raising rates in December nor its balance sheet reduction process. Other indicators, such as earnings, continue to point to a labour market that is still on an upward path which would strengthen the case for the Fed to hike.
After climbing to fresh highs around the 94.30 band on Friday, the US Dollar index, which tracks the Buck vs. its main rivals, saw a downturn to the current area of 93.30, where it is looking to stabilize.
It’s been a quiet data week for the Dollar ahead of the key Federal Open Market Committee minutes expected tomorrow and inflation figures tracked by the CPI due on Friday. |
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