{"id":46313,"date":"2014-01-15T06:23:49","date_gmt":"2014-01-15T11:23:49","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=46313"},"modified":"2014-01-15T06:23:49","modified_gmt":"2014-01-15T11:23:49","slug":"us-dollar-picks-up-from-two-weeks-low","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/01\/15\/us-dollar-picks-up-from-two-weeks-low\/","title":{"rendered":"US Dollar Picks up from Two Weeks Low"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

The US dollar climbed against 15 out of 16 major peers on Wednesday, bouncing back from its two-week low against the euro, after two voting members of the Federal Open Market Committee (FOMC) hinted the central bank could end its quantitative easing program early.<\/p>\n

The World Bank raised its growth forecast for the world\u2019s biggest economy, while a gauge for future market volatility was close to a one-year low.<\/span><\/p>\n

The greenback advanced 0.30% higher, trading at $1.3637 against the euro at the time of writing, while the World Bank raised its global growth forecast to 3.2% this year, 3.4% by 2015 and 3.5% the year after.<\/p>\n

The US gross domestic product (GDP) is forecasted to increase by 2.8%, while Japan and the eurozone will expand by 1.4% and 1.1% respectively.<\/p>\n

US Dollar – Fed Speakers <\/span><\/h2>\n

Philadelphia\u2019s Federal Reserve (Fed) President Charles Plosser said he recommend the central bank should end its quantitative easing before late 2014. Plosser also said he forecast the unemployment rate would reach 6.2% by the end of the year.<\/p>\n

Charles Plosser supports the Fed\u2019s decision to scale-back its stimulus and commented on the labour marking performing better than expected.<\/p>\n

Dallas Fed President Richard Fisher also supported the Fed\u2019s December decision to begin to taper the quantitative easing program and said he would prefer the program gets eliminated entirely.<\/p>\n

Fed chiefs for Chicago, Charles Evans and Atlanta Dennis Lockhart are expected to make their speeches today. In December, the Federal Reserve announced they will cut its monthly bond purchases to $75 billion from $85 billion.<\/p>\n

Members of the Federal Open Market Committee (FOMC) will gather for their next meeting on January 28-29.<\/p>\n

US Dollar – US Data<\/span><\/h2>\n

US retail sales rose 0.2% higher in December on a monthly basis, compared to 0.4% reported in November. The retail trade volume advanced 0.7% higher, picking up from the revised 0.1% rise reported in the previous month.<\/p>\n

US businesses\u2019 inventories advanced 0.4% higher in November, reports from the US Department of Commerce confirmed on Tuesday.<\/p>\n

 <\/p>\n

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The post US Dollar Picks up from Two Weeks Low<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog The US dollar climbed against 15 out of 16 major peers on Wednesday, bouncing back from its two-week low against the euro, after two voting members of the Federal Open Market Committee (FOMC) hinted the central bank could end its quantitative easing program early. The World Bank raised its growth … <\/p>\n

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