US Dollar on the rise again
Fresh economic data confirm: US economic recovery remains sustainable. November PMI indices came above the forecasts, while the Nonfarm payrolls blew the market up. US private sector added 320K new jobs in November versus 230K expected. Average hourly earnings are also on the rise.
Upbeat news increase expectations for an earlier Federal Reserve rate hike and support demand for the US dollar. Euro, Australian dollar and the Yen plummeted to the new multi-month lows. As we know, these are the central banks that are expected to add monetary stimulus in the year 2015.
Economic calendar for the coming week is light. You should pay attention to the US retail sales data on Thursday. On Friday watch the producer price index and consumer sentiment index by the Michigan University.