11 October 2016, 18:05  US Dollar in 3-month tops

The US Dollar Indexkeeps the upside intact today and is currently advancing to fresh highs in the mid-97.00s. The index met extra buying pressure on Tuesday, navigating the area of multi-month peaks around 97.50 and on its way to a potential test of July’s tops in the 97.60/65 band. Rising speculations on the likeliness of a rate hike by the Federal Reserve at its December meeting, CME Group’s FedWatch tool now sees the probability of higher rates by year-end at above 63%. On the data front, the Fed’s Labor Market Conditions Index has dropped to -2.2 for the month of September. Next on tap will be the speech by Minneapolis Fed N.Kashkari (2017 voter, neutral). The index is advancing , break above 97.62 would open the door to 98.59 and then 99.95, support aligns at 95.90 , 95.12 and finally 94.44 (low Sep.8).

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