USD
The dollar advanced again on Friday to end a volatile week on an upbeat note
after Federal Reserve Chair Janet Yellen said at 2200 Thursday night (London
time) that the Fed was on track to raise interest rates by December 2015, which
is earlier than she intimated a week earlier in the FOMC announcement.

On Friday, US economic growth was revised upward. Gross domestic product grew
at 3.9%, up from 3.7% in August, the Commerce Department said. The GDP

USD
The dollar advanced again on Friday to end a volatile week on an upbeat note
after Federal Reserve Chair Janet Yellen said at 2200 Thursday night (London
time) that the Fed was on track to raise interest rates by December 2015, which
is earlier than she intimated a week earlier in the FOMC announcement.

On Friday, US economic growth was revised upward. Gross domestic product grew
at 3.9%, up from 3.7% in August, the Commerce Department said. The GDP
figure showed the world’s largest economy
expanded more than previously forecast in the second quarter, boosted by gains
in consumer spending and construction that may help the U.S. withstand a global
slowdown.

Strong
hiring, cheaper gasoline and higher home prices will probably sustain household
purchases, which account for about 70 percent of the economy. That helps
bolster Federal Reserve Chair Janet Yellen’s view that the U.S. will overcome
any fallout from cooling overseas markets and swings in global financial and
commodity markets.

EUR
The market saw some slightly weak data out of the Euro Area on Friday, which
had limited impact on the market. Italian Wage Inflation came out slightly
worse than expected, Spanish Producer Price Index came out slightly weaker than
expected, and Euro Area Money Supply grew by less than analyst
expectations. 

Key Announcements

08:00 – USD –FOMC Committee Member Cunliffe Speech
10:15 – USD –FOMC Committee Member Tarullo’s Speech
13:30 – USD –FOMC Committee Member William Dudley’s Speech
13:30 – USD – Personal Income expected to remain at a monthly growth rate of
0.4%
13:30 – USD – Core Personal Consumption expenditures
expected to remain at a monthly growth rate of 0.1%
15:00 – USD –Personal Home Sales expected to remain
at a monthly growth rate of 0.5%
18:30 – USD –FOMC Committee Member Evans Speech
22:00 – USD –FOMC Committee Member Williams Speech