The Dollar Has Stalled

The upward movement of the USD against major currencies has stopped as we wait to find out who will head the Fed next.

Economic News
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The Dollar Has Stalled

Investors are holding their breath as they await the announcement regarding who the next chief of the Federal Reserve will be, something that Donald Trump has to decide on any moment now. This has caused the dollar (which was making slow but steady gains on major currencies last week) to suspend its upwards movement while we wait.

In general, investors lately seem to favor a bullish scenario for the dollar. Economic data from the United States has been positive over the past few months, despite political unrest. The Federal Reserve seems determined to enact another increase in interest rates in December, which would solidify the dollar further. Still, right now our biggest clue as to where the USD will go has to do with the next head of the Fed - Janet Yellen’s mandate expires in a few months and who will replace her will dictate what kind of policies we can expect from the Fed in the future.

The public expects that the next head will be John Taylor, an economist from Stanford who is believed to take a more hawkish view on monetary policy - which would make the dollar stronger. However, if there are any surprises the markets may waver.

SuperForex
Euro Under Pressure

Economic News

Euro Under Pressure

The euro is trying to move away from three-month lows.

SuperForex
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Modest Steps from the ECB Cause a Collapse in the Euro

Economic News

Modest Steps from the ECB Cause a Collapse in the Euro

The press conference of the ECB has weakened the euro.

SuperForex
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British Pound Rallying on Good Data

Economic News

British Pound Rallying on Good Data

The GBP makes new gains based on positive GDP numbers.

SuperForex
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