USD: Supported by Fed rate hike bets

November 9, 2015

Imre Speizer, Senior Markets Strategist at Westpac, suggests that the USD index’s price action remains very constructive.

Key Quotes

“Fed hike odds now sit at 80%, an elevated reading for a data dependent Fed that will not make up its mind until closer to a meeting that is still a good five weeks away, although it would probably take a lot to offset the recent strong US payrolls report. That said, our impression is that USD positioning is light, markets having trimmed their USD longs and would still prefer to buy dips in the USD near term.”

“There are upside risks to retail sales, and let’s not forget the small matter of the 3 Dec ECB meeting. Draghi appears to be vacillating in recent days on the question of whether the ECB will ease policy further but until that meeting is out of the way markets will likely err on the side of pricing in additional easing.”

“Oct retail sales is the key release in an otherwise typically quiet (shortened by Veterans Day) post-payrolls US schedule this week, the other less noteworthy releases being the JOLTS survey, PPI, prelim Uni Michigan sentiment. Partial indicators flag some upside risk to Oct retail sales, auto sales coming in above expectations and chain store sales firming notably through the month.”

“Possibly of more importance for markets will be the lineup of Fed speakers: Rosengren, Bullard, Lacker, Evans, Dudley and Mester.” 

Publication source
OctaFX information  OctaFX reviews

December 5, 2016
November services data will headline a thin economic slate
The ECB is the focus this week. The Bank not only has to deal with the immediate fallout from the Italian referendum, but most importantly, it will be deciding on the future of the QE program, which currently runs out in March...
December 5, 2016
EUR fell on a negative referendum outcome
Italians voted NO to constitutional changes proposed by Italian Prime Minister Matteo Renzi. After negative outcome of the referendum, Renzi decided to quit in the early hours of Monday...
December 5, 2016
Italy continues to dominate headlines as Euro hits 20-month low
Political risk is showing no signs of escaping the headlines after the European Union was plagued into fresh political turmoil overnight following confirmation that Italian Prime Minister Matteo Renzi suffered a humiliating defeat in the referendum over constitutional reforms...

Orbex Rating
OANDA Rating
Fort Financial Services Rating
OctaFX Rating
Tickmill Rating
Vantage FX Rating

OptionsXO Rating
OptionFair Rating
Grand Option Rating
365BinaryOption Rating
TropicalTrade Rating
Binary Brokerz Rating