{"id":69622,"date":"2015-03-16T12:21:13","date_gmt":"2015-03-16T16:21:13","guid":{"rendered":"http:\/\/countingpips.com\/?p=69622"},"modified":"2015-03-16T13:33:36","modified_gmt":"2015-03-16T17:33:36","slug":"dollar-index-eases-off-12-year-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/03\/dollar-index-eases-off-12-year-high\/","title":{"rendered":"Dollar Index Eases Off 12-Year High"},"content":{"rendered":"<div id=\"inves-1296317179\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 16, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/strong><\/p>\n<p><strong>Highlights:<\/strong><\/p>\n<ul>\n<li>US dollar index falls below 100.0, as markets shift their attention to the FOMC.<\/li>\n<li>US industrial production rises only 0.1% in February, as manufacturing and mining output decline.<\/li>\n<li>NAHB housing market index falls to 53 in March from 55 in February.<\/li>\n<\/ul>\n<p>The US dollar index eased off 12-year highs on Monday, as disappointing economic data clouded an otherwise bullish outlook on the greenback ahead of the Federal Open Market Committee meetings.<\/p>\n<p>The dollar index declined 0.7 percent to 99.62 after powering to a new 12-year high last week. The dollar is enjoining its strongest rally in decades, having gained 25 percent since July of last year.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-154.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-199265\" src=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/03\/Screenshot-154.png\" alt=\"Screenshot (154)\" width=\"742\" height=\"485\" \/><\/a><br \/>\nIn economic data, industrial production rose slower than forecast in February, as inclement weather weighed on manufacturing output.<\/p>\n<p>Industrial production \u2013 a key measure of manufacturing, utilities and mining output \u2013 rose 0.1 percent in February, the Board of Governors of the Federal Reserve System reported on Monday. The gains were led by a surge in utility output, which benefited from unusually cold temperatures. Manufacturing and mining production declined, a sign of weak demand and further cuts in the energy sector.<\/p><div id=\"inves-1527103802\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Separately, the National Association of Homebuilders (NAHB) said builder confidence unexpectedly declined in March, as supply chain issues and labour shortages weighed on the market. The housing market index declined to 53 in March from 55 in February, as current sales and buyer traffic each declined.<\/p>\n<p>The dollar\u2019s big test will come Wednesday when the Federal Reserve releases its March rate statement. Rate-hike speculation has been the major catalyst of the dollar\u2019s resurgence over the past half-year. The Fed is likely preparing to raise short-term interest rates in the near future, although the exact date is still uncertain. The dollar is expected to reach new highs against its basket of trade-weighted peers should the central bank drop the word \u201cpatient\u201d from its official rate statement later this week.<\/p>\n<p>Accompanying the Fed\u2019s policy announcement will be a summary of economic projections, including the \u201cdot plot\u201d chart of interest rate expectations. The December projections showed policymakers expected interest rates to average more than 1 percent by the end of 2015.<\/p>\n<p><strong>By\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0fxtimes.com Highlights: US dollar index falls below 100.0, as markets shift their attention to the FOMC. US industrial production rises only 0.1% in February, as manufacturing and mining output decline. NAHB housing market index falls to 53 in March from 55 in February. The US dollar index eased off 12-year highs on Monday, as disappointing [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-69622","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=69622"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/69622\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=69622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=69622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=69622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}