{"id":46966,"date":"2014-01-31T08:08:22","date_gmt":"2014-01-31T13:08:22","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=46966"},"modified":"2014-01-31T08:08:22","modified_gmt":"2014-01-31T13:08:22","slug":"greenback-to-strengthen-to-best-amid-us-recovery-signs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/01\/31\/greenback-to-strengthen-to-best-amid-us-recovery-signs\/","title":{"rendered":"Greenback to Strengthen to Best Amid US Recovery Signs"},"content":{"rendered":"

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

Economist are forecasting the greenback to strengthen to its best since 2010 against its peers, as investors are expecting \u00a0reports to show the world\u2019s largest economy increased its spending for an eighth month.<\/p>\n

Meanwhile, the Japanese yen added monthly gains against a basket of its major peers while stocks for the country declined and reports revealed inflation increased. The 18-block euro was seen hovering for its biggest monthly decline since March before the Central Bank policy meeting scheduled for February 6.<\/span><\/p>\n

The dollar index, which monitors the strength of the greenback against a basket of 10 major currencies, came in at 1.030.62. The US dollar traded at $1.3536 per euro from $1.3555. The Japanese yen rose 0.2% higher to 102.49 per dollar, heading for a 2.7% monthly gain.<\/p>\n

US Economy Recovery<\/span><\/h2>\n

While the market awaits reports from the Commerce Department report later in the day, analysts forecast to see a rise in the US consumer spending by 0.2% in December, compared to the 0.5% advance seen in November.<\/p>\n

Figures from the Commerce department revealed the world\u2019s largest economy expanded by 3.2% in the fourth quarter, meeting analysts\u2019 estimates.<\/p>\n

Following the Federal Reserve\u2019s two day policy meeting, Fed policymakers concluded the meeting by deciding to reduce the central bank\u2019s stimulus further by $10 billion to $65 billion, showing signs that the world\u2019s largest economy is expanding.<\/p>\n

The US data surprise index for Westpac Banking climbed to its highest this month since June. \u201cThe recent improvement in U.S. growth sentiment is living on borrowed time,\u201d New-York based chief currency strategist Richard Franulovish wrote in a note.<\/strong><\/p>\n

\u201cWe would expect the trend in growth differentials to continue to shift in the USD\u2019s favor over the medium term,\u201d he wrote. \u201cHowever, there will be setbacks and if anything we could be on the cusp of one.\u201d<\/p>\n

 <\/p>\n

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The post Greenback to Strengthen to Best Amid US Recovery Signs<\/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 Economist are forecasting the greenback to strengthen to its best since 2010 against its peers, as investors are expecting \u00a0reports to show the world\u2019s largest economy increased its spending for an eighth month. Meanwhile, the Japanese yen added monthly gains against a basket of its major peers while stocks for … <\/p>\n

Continue reading “Greenback to Strengthen to Best Amid US Recovery Signs”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-46966","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/46966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=46966"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/46966\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=46966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=46966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=46966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}