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Escalating U.S. dollar could threaten stock market in 2017

Escalating U.S. dollar could threaten stock market in 2017


The U.S. dollar continues to gain strength against foreign currencies, which is good news for any American trying to stretch their money overseas. But according to some financial experts appearing on CNBC’s Trading Nation, the rising dollar could be the biggest threat to the stock market in 2017.

Chad Morganlander, portfolio manager at Stifel Nicolaus, said today:

“As the Federal Reserve gets closer to December, you’re going to continue to see the dollar notch up in value,and I think the Fed will raise interest rates by a quarter percent in December and again late next year. Such moves could push the dollar about 3 to 6 percent higher, and that could apply pressure to the overall financial system. As the dollar rises further, financial conditions will start to actually tighten, and we believe that the equity markets could have relative sub-par kind of performance in 2017, along the lines of 4 to 6 percent. Such a pullback could potentially “unhinge” the financial system.

This week the dollar index, which follows the value of the U.S. dollar as compared to other major currencies, rose above 99 — the first time it has been above that level since February 2nd.  See more below.

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