After the recent positive data from the USA side, the Dollar index continues its positive trend today. According to the data released yesterday in the US, the ADP private sector employment turnover was 298 thousand people in February This data means that the recovery in the labor market continues and also it signals the positive trend will continue for the American economy in near future. Developments in the employment market may play a key role in the decision, while the FED's interest rate hike in March is likely to be priced at around 85% of the futures market. Therefore, the realization on the expectation supported the rise in the Dollar index.
When we look at today's developments in the world economy, the most significant development of the day will undoubtedly be the European Central Bank monetary policy meeting. However, ECB President Mario Draghi's announcement of inflation, upcoming elections and a possible tapering process could lead to an increase in volatility in the euro. In the US, weekly unemployment benefit applications are important. Finally, when we look at Asian markets, there could be a bit negative trend, especially for the Chinese side. Consumer inflation in February will be the determinant data for the Asian economy today.
- Date: 09 March 2017 Thu 07:24
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