All market participants are preparing for one of the most important weeks of the year. The ECB is planning to increase incentives, the Fed is trying to determine as accurately as possible the current situation with data on employment before the meeting on 15-16 December. The Fed chief Janet Yellen will speak before Congress. One of these events, or their combination, may be predetermining in the possible way of the dollar, against the background of the fact that indicators of "American" in November - are the best since the beginning of July.
According to the statistics, based on a survey of analysts, US corporations have added about 200 thousand workplaces in the current month. In October, the figure was 271 thousand of workplaces, thus showing a record high for the year.
Over the last year the US dollar has risen by almost 10%, experts are trying to predict how much more "American" will be able to strengthen its position. Bloomberg demonstrates that the dollar index is trading near its record highs in December 2004. Financial expert Kit Juckes from Societe Generale did a review for his clients on Friday, in which he explained why the dollar is overvalued by many criteria. Nevertheless, futures demonstrate that investors continue to believe in the dollar on speculation that the Fed will increase the key rates next month. The dollar index Bloomberg, which keeps currency statistic against other 10 majors, increased by 0.5% over the last week.