US Dollar: forecast for Sept 28-Oct 4
By Kira Iukhtenko
Hawkish comments of the Fed’s chief Janet Yellen pushed the US Dollar higher on the past week. USD index strengthened above 96 points on the increased expectations of the Fed’s hike in 2015. Fix above 100 points will open the way for a new rally.
On the new week, labor market data on Friday will be in focus. US economy is expected to have added 202K new jobs in September. In August, NFP came at just 173K. Strong figures will increase expectations for a hike in October. Meanwhile, downbeat readings will pull the USD down, creating new opportunities for buying on dips.
What’s more, we’ll hear a number of FOMC members speaking this week. You should also watch the manufacturing PMI on Thursday.