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Factors that needs to coincide to support US Fed hike as well as USD

Tuesday, September 29, 2015 7:11 AM UTC

Even a more pronounced collapse in US consumer confidence today might fuel concerns about its economic momentum and cause the market to doubt that the US economy really is ready for a rate hike.

Whether or not something will happen in December depends on two factors, as per Commerzbank,

Does the data support a rate hike? For the Fed to hike rates now that it has waited for so long everything will have to be right.

The FOMC members will have to have made it clear that they are ready for rate hikes. And for that to happen they need to continue to stress their willingness to act in the weeks to come.

However, both these factors have to coincide for the dollar to be able to benefit. Only at that stage is the market likely to really price in higher interest rates and only then will EUR/USD dare move below 1.10 again. So for the time being the FX market is dominated by risk sentiment.

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Factors that needs to coincide to support US Fed hike as well as USD

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