Market focus on the fed meeting next week the dollar
index rose slightly
On Thursday (December 10)The dollar indexRose, from yesterday hit a month lows, as markets focus on the fed to raise interest rates again.The dollar index rose 0.6%, to 97.945.
The euro against the dollarTumbled 0.8%, giving up most of yesterday's 1.1% rise, the European central bank yesterday[microblogging]Resolve yet talk about the prospect of Europe and the United States central bank policy differentiation have more skeptical.
Investors expect the fed to tighten monetary policy, the European central bank will further relax.But before the European central bank cut interest rates on deposits by less than expected, and yet speech market increasingly worried that the European central bank may not take further action.
Due to the uncertainty of the European central bank will further easing up, but investors are still convinced that the fed will be on December 15 to 16, rising interest rates monetary policy meeting, this has propped up the dollar.
Cambridge Mercantile Group in the currency market strategy and structured products department director Karl Schamotta, says "investor confidence in the fed would act more, so the market appear skewed."
The federal funds rate movements, according to the market believes the fed to raise interest rates next week 85% of the time, the recent visit of the 18 primary dealers have 17 expect the fed to raise interest rates next week.
The Australian dollarUp more than 1%, because Australian jobs report showed job growth strongest recorded more than 15 years.The drive from the Australian dollar yesterday hit a two-week low of $0.7169 a strong rebound.
Westpac Banking Corporation, senior currency strategist at approach said, "although some investors question the strength of the report, the report shows that Australia's economy is indeed get rid of the dependence on mining, jobs data, as well as retail sales, GDP and a series of data showing the economy is in stable, economy is not as many investors expected, hit by trade in goods and the performance is so bad."