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December 2015

US dollar has gained this afternoon

Published: Wednesday 02 December 2015

The US dollar has gained this afternoon following the release of ADP employment figures which showed the US economy created 217k jobs in November. Whilst this is the unofficial employment figure it is seen as the pre-cursor to Friday’s non-farm payroll figure. The Fed have confirmed that labor market conditions have been met paving the way for December rate hike. 
At this stage, it would appear that unless Friday’s figure is a complete shocker then interest rates will go up in the US later this month. Even if the figures misses expectations by a mile, I would expect interest rates will still go up in order to preserve the Fed’s credibility and to show faith in the US economic recovery.