Upcoming US data to support dollar and Fed’s lift-off – BTMU

FXStreet (Edinburgh) – Lee Hardman, Currency Analyst at BTMU, expects the next releases in the US economy to support the case for a stronger dollar and a rate hike in the medium term.

Key Quotes

“Incoming US economic data releases will become increasingly important in the coming months as a driver of US dollar direction potentially creating more volatile price action as well”.

“The release of the second quarter US GDP report will be in focus today which is expected to confirm that the US economy has returned to more solid growth”.

“We are expecting the US economy and labour market to strengthen further in the coming months both providing reassurance to the Fed that it can begin to raise interest rates and supporting a stronger US dollar”.

Lee Hardman, Currency Analyst at BTMU, expects the next releases in the US economy to support the case for a stronger dollar and a rate hike in the medium term…

(Market News Provided by FXstreet)