Positive for the release of the US producer price index (PPI) data report recently expected investors to return to support the re -strengthening of the US dollar in the New York session after displaying a disappointing performance in the European session.
The data reading for November is expected to decline to 0.5% from 0.6% in the previous month, instead registering a higher increase to 0.8%.
The annual data reading rose to 9.6% for November, higher than the median projection by economists of 9.2%, according to a report by the U.S. Bureau of Labor Statistics.
Similarly, the core PPI reading rose higher than market expectations.
Preliminary reactions in the market saw the US dollar trying to strengthen following published data, but experiencing difficulties.
Investors remain vigilant awaiting the outcome of the FOMC meeting early Thursday morning to see if the Federal Reserve (Fed) will continue implementing measures to reduce bond purchases (tapering) as well as a faster interest rate hike.
Certainly the price movement on the major charts especially for the US dollar will be more turbulent over the weekend.
However, ahead of the highlight event, various market reactions can be witnessed with price movements also likely to be volatile and risky for investors facing meetings of several central banks as well as high-impact economic data.
