US Dollar is rising

The US dollar is gaining good positions against a basket of six major currencies for third consecutive day after the focus of the market participants again turned to the monetary policy of the Federal Reserve. The hopes that Fed will raise interest rates in September disappeared over the past week as China's decision to devalue the yuan created pressure in foreign exchange market .

This week the central bank in Beijing suspended the depreciation of the yuan and thus reduced the fear of more serious devaluation.The respective pacification of the situation in Asia over the last two days allowed the markets to re-focus on the Federal Reserve at the time the institution is considering to raise interest rates. Analysts believe that the macroeconomic data from the US are stable and the only factor that could derail the Fed's plans is an aggressive new devaluation of the Chinese yuan. If this does not happen, Fed will probably fall back on interest rate hikes.The most important news from the US today is associated with data on the primary housing and building permits for July. The reports targeted real estates sector in the country and they are of high importance as the purchase of property creates some of the most important movements of capital for households and shows the extent to expanding economic activity in the country.