Saxo Group Videos

Hardy: USD will move to new cycle highs

Friday's nonfarm payroll data provided a big boost to the US dollar. But Saxo's John Hardy says he expects the greenback to move higher still in the run up to next week's FOMC meeting.

Hardy says the unemployment rate dropping to 5.5% in February is important, putting increased pressure on the FED to increase rates. He believes that the FOMC may drop the word 'patient' from its March statement, leaving it open for a June interest rate hike.

Moving to the Euro and Hardy offers a few words of caution. He notes that the market is aggressively short on EUR but he says there is a possibility it could find some sideways action or even support outside the dollar. He points out that USD strengthened for a few months after the Fed began its QE 2 programme.

03:09 minutes
Tags: dollar, dollar euro, dollar federal reserve, dollar growth, dollar high, dollar index, dollar outlook, dollar rise, dollar strength, dollar trading, dollar weak, dollar weakness, dollar yen, dollars, eur, euro, euro area, euro dollar, euro strength, euro zone, eurodollar, europe, europe growth, european, european central bank, european economy, european union, eurozone, eurozone economy, eurozone recovery, eurusd, eurusd trade, fed, fed chairman, fed chairwoman, fed meeting, federal, federal government, federal policy meeting, federal reserve, federal reserve rate hikes, federalreserve, fomc, fomc meeting, fomc minutes, fomcmeeting, fomcminutes, fomcstatement, jobs, jobs data, jobs figure, jobs growth, jobs market, jobs rate, non farm, non farm payrolls, non farms, non-farm payrolls, non-farms, nonfarm, nonfarm payroll data, nonfarm payrolls, nonfarmpayrolls, saxo, saxo bank, saxo tv, trading, tradingfloor.com, unemployment, unemployment rate, unemploymentdata, us, us dollar, us dollar index, us economy, us fed, us federal reserve, us government, us growth, us jobs, us jobs data, usa, usd, usd index

Switch to