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FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Upbeat data in second half of 2016 coupled with limited financial market volatility in the wake of the November 8th elections have increased the odds that the Federal Reserve will hike the fed funds target range by 25 basis points at its December meet.
The Fed's Beige Book report on Wednesday which has little to suggest a significant change in the underlying path of growth in the economy also upheld the outlook for December rate hike. Also Fed members Robert Kaplan and Loretta Mester made relatively clear comments on rate hikes on Wednesday, further cementing a December rate hike.
Hence, US Non-Farm-Payroll report due Friday would have to resemble a catastrophe to prevent the Fed from raising interest rates in two weeks’ time. Positive ADP report published on Wednesday shows less likelihood for a disappointment from the NFP. Expectations are for a good result of approx. 200k rise in payrolls tomorrow.
FxWirePro's Hourly USD Spot Index was at -28.1748 (Neutral) at 1230 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
