It’s been a choppy few days for the world markets, but things seem to be smoothing out for now. The US dollar, after a few down days, is once again regaining the upper hand. Forex traders are focusing on expectations of better news out of the United States.
Greenback is gaining against its European counterparts and the dollar index is higher today as Forex traders improve their expectations about what’s next. Focus is shifting away from China for now and moving toward the US economy.
Analysts expect to see good news tomorrow when the nonfarm payrolls report is released for August. Expectations of an improving employment picture are running high. Additionally, there are still hopes that the Federal Reserve will raise rate before the end of the year. In fact, some think that there is still a chance to see an increase this month.
With these expectations, it’s not too surprising to see the dollar gain ground, even with Russian President Putin’s call for the dollar to be ditched.
At 13:15 GMT the US dollar index is up to 96.467 from the open at 95.979. EUR/USD is down to 1.1125 from the open at 1.1227. GBP/USD is down to 1.5263 from the open at 1.5298. USD/JPY is down to 119.7880 from the open at 128.3300.
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