US economy roars back

FED WATCH: Investors looked ahead to an appearance Thursday by Bill Dudley, president of the U.S. Federal Reserve Bank of New York, for signs of the Fed’s outlook on the economy. They are looking for confirmation the Fed is sticking with plans for a possible December interest rate hike.

ANALYST’S TAKE: The U.S. jobs figure “was through the roof” and the NFIB survey “painted a much better picture for the U.S. economy than most believed,” said Stephen Innes of OANDA in a report. Against that backdrop, Dudley might provide an upbeat outlook and confirm the Fed is on track for a rate hike, said Innes. Still, he said, “the Washington, D.C., bedlam and North Korea’s saber-rattling is muddying the broader landscape.”

CURRENCY: The dollar declined to 109.79 yen from Tuesday’s 110.34 yen. The euro edged down to $1.1726 from $1.1751.

The Washington Post

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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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