DOLLAR CAN DRIFT LOWER, WITH DXY HEADING BACK DOWN TO 105.00 – ING
US rates remain at recent lows and there has been no concerted pushback from the Federal Reserve. Therefore, the US Dollar could soften further, economists at ING report.
Buying into the US slowdown
We had been expecting more of a Fed pushback against this drop in US rates, but Fed speakers seem quite equivocal. This has left US rates at the lows and investors seemingly starting to buy into the US slowdown – a mild Dollar negative.
In terms of data, the focus will again be on the weekly jobless and continued claims numbers, where any spike could hit the Dollar - hinting at signs that the US labour market is finally turning.
We have a mild preference today that the Dollar can drift lower, with DXY heading back down to 105.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.