Скачать или смотреть Investors more confident in US Fed rate hike this year

Today, the US dollar index, a measure of the greenback’s strength against its rivals, hit a seven-month high. The US dollar gains support from the increasing likelihood of the rate hike by the US Federal Reserve later this year.
Today, the US dollar index is trading at 98.52. As the economic calendar lacks macroeconomic reports from the US, the dollar index is set to close the week at about 98.60.
The US dollar is able to hold at highs in light of the economic reports released on Thursday. Interestingly, the greenback went on with the uptrend even despite the mixed macroeconomic statistics.
The US Labor Department reported that the number of initial jobless claims rose by 13,000 to 260,000 in the week ended October 15. The latest reading is below the claimant count in the previous week when the number of claims increased to 276,000. However, the fresh figure missed analyst expectations for a 250,000 rise.
Manufacturing activity pulled back modestly in the Philadelphia region. The Philadelphia Federal Reserve Bank’s index fell to 9.7 in October from 12.8 in September. Nevertheless, the reading turned out better than the forecast. Economists had expected the Philly Fed gauge to pull back to 5.3.
Traders cheered the report on US existing home sales.
According to the National Association of Realtors, sales of existing homes rose 5.47 million on a yearly basis in September after a decline for two previous months. In August, the indicator dropped by 5.3 million.
The batch of positive statistics was enough to boost investors’ confidence that the US Federal Reserve will decide on the rate hike at policy meeting on December 13-14. However, comments by Federal Reserve Bank of New York President William Dudley were the main catalyst of the US dollar growth. “I do expect to see an interest rate rise later this year,” the policy maker said.

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