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US Dollar Strengthens as World Braces for March Fed Rate Hike

Last week’s high: $1.4168

Last week’s low: $1.3792

USD Gains as March Rate Hike Odds Increase

The strong economic data seen recently has so thoroughly convinced markets that the Federal Reserve will be hiking interest rates in March – and again later in the year – that global stock markets have shed over $4 trillion in value. Various Federal Reserve officials have tried to reassure markets that this wouldn’t have changed their outlook on the economy, with William Dudley saying the rate hike in March would be appropriate if data continue to print strongly.

USD Outlook: Consumer Price Index to Boost Rate Hike Odds Further?

Wednesday’s consumer price index data will be the most important release on the US economic calendar this week. Although the Federal Reserve prefers to use the personal consumption expenditure data as its main inflationary measure, the results of the consumer price index could nonetheless provide further evidence the Federal Open Market Committee (FOMC) should hike rates next month.

Key Events

14th February

13:30 USD Consumer Price Index (YoY) (JAN)

13:30 USD Consumer Price Index Ex Food and Energy (YoY) (JAN)

13:30 USD Retail Sales Advance (MoM) (JAN)


15th February

14:15 USD Industrial Production (MoM) (JAN)

14:15 USD Manufacturing (SIC) Production (JAN)


16th February

15:00 USD University of Michigan Sentiment (FEB P)



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To keep up to date with the US Dollar, visit the USD blog in our Currency News section.

Arron Morris
Senior Currency Broker
T: 01442 892 065

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