US Dollar Aims Higher on Liquidity Appeal Amid Market Rout

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  • US Dollar hits 17-month high amid market-wide risk aversion
  • October’s jobs report on tap, wage growth may take top billing
  • Liquidity appeal may fuel USD rally as market rout continues

See our US Dollar forecast to learn what will drive prices through the end of the year!

The US Dollar capitalized on market turmoil last week as expected, soaring to a 17-month high against an average of its major currency counterparts. That the advance played out even as souring sentiment weighed on the priced-in Fed rate hike outlook speaks to the benchmark unit’s revived haven appeal, which was conspicuously (if only briefly) absent at the start of the rout in risky assets.

The week ahead brings heavy-duty scheduled event risk back into the picture. October’s labor market data takes top billing, with expectations pointing to a pickup in payrolls growth. Wage inflation might prove to dominate the spotlight however. Average hourly earnings are expected to have grown at a blistering pace of 3.2

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