Posts Tagged ‘Federal Open Market Committee’

The dollar climbed to a two-month high against the euro as traders boosted wagers that U.S. interest rates will rise, starting as early as next month.

The greenback strengthened versus most of its major peers after Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday, May 23 that he could see two to three rate increases this year, echoing remarks by the San Francisco Fed Bank’s John Williams.

Futures are indicating for the first time since March a better-than 50 percent chance that the Federal Open Market Committee will raise rates by its July meeting.

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One of the major headlines in this week’s latest roundup of online Forex trading news revolves around a significant drop in the volatility index.

This is in stark contrast to recent weeks when this very same index hinted at a rather volatile Forex market.

Thus, many online trading analysts believe that there is little reason to expect major currency movements from a short-term perspective.
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One of the aspects that has recently dominated the Forex markets is the continued slide of the United States dollar in relation to currencies such as the Euro and the Pound. While much of this bearish momentum has been triggered by the brinksmanship recently played out regarding the debt ceiling, recent data has been just as damaging.

The primary reason for a negative short-term outlook was prompted by the recent non-farm payroll report submitted that displayed dismal job growth figures within the United States. In turn, this has caused online Forex investors to take a rather cautious approach to the outlook for the greenback.
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