FOMC: US Rate Hike “could well become appropriate relatively soon.”

November 21, 2016

FOMC: US Rate Hike “could well become appropriate relatively soon.”

This article is originally referred from Traders Trust Afternoon Report

The U.S. dollar slid lower against its Canadian counterpart on Monday, as rising oil prices lent support to the commodity-related Canadian currency, although sustained optimism over the U.S. economy limited the greenback’s losses.

The Canadian dollar found support as oil prices rallied on Monday after Russian President Vladimir Putin said he sees a “high probability” that an agreement to curb oil production will be reached at a meeting later this month.

Markets shrugged off a report by Statistics Canada showing that wholesale sales dropped 1.2% in September, compared to expectations for a 0.4% rise and after an increase of 0.8% the previous month.

But the greenback was still strong amid expectations that President-elect Donald Trump’s plans to ramp up fiscal spending and cut taxes will spur economic growth and inflation.

Faster growth would spark inflation, which in turn would prompt the Fed to tighten monetary policy a faster rate than had previously been expected.

The U.S. dollar has also been boosted by bets that the U.S. central bank will almost certainly raise interest rates next month.

Fed Chair Janet Yellen on Thursday reiterated that a rate hike “could well become appropriate relatively soon.”

Original Source: Traders Trust Afternoon Report

Free 123 USD

5 USD for Free

25 USD for Free

300 USD for Free

100 USD for Free

30 USD for Free


nameDeposit methods
singular_nameDeposit method
all_itemsAll Deposit methods
edit_itemEdit Deposit method
view_itemView Deposit method
update_itemUpdate Deposit method
add_new_itemAdd New Deposit method
new_item_nameNew Deposit method Name
parent_itemParent Deposit method
parent_item_colonParent Deposit method:
search_itemsSearch Deposit methods
popular_itemsPopular Deposit methods
separate_items_with_commasSeparate deposit methods with commas
add_or_remove_itemsAdd or remove deposit methods
choose_from_most_usedChoose from the most used deposit methods
not_foundNo deposit methods found.