September Fed Interest Rate Decision

For some time now, the possible interest rate hike this September has been on the mind of USD traders in the forex. Janet Yellen chair of the Federal Reserve has made attempts to ease the tension and concerns over higher interest rates in the market by revealing that any possible rate hike will not be too fast and well dependent on the American Economy. For really a long time interest rates were zero but this will be different from past rate hikes as it could be an on/off approach. So I think that the outcome of the non farm payroll report (NFP) which were published on Friday on September 4 will really affect the chances interest rate hike this September. Changes in the payroll are pretty volatile as a positive non farm payroll is bullish for the American dollar which is good for the dollae but one that doesn't meet expectations is bearish and negative for the USD. Should employment data be as impressive as it has been since May 8 when the American economic had recorded above 200,000 gains, then the chances of an interest rate for this September would be more solid with a greater chance of occurring. But should employment be disappointing or possibly a mixed data, the chances of a September rate hike would fade and the market could even turn against the USD.