USD INDEX TO TRADE IN A 103.00-104.00 RANGE IN THE NEAR TERM – ING
Dollar takes a breather ahead of mid-tier US data. Economists at ING analyze Greenabck’s outlook.
Patience is required
Today sees slightly more settled market conditions, and on the US calendar are housing starts and initial claims – probably not market movers.
We are bearish on the Dollar this year, but patience is required. That can probably mean DXY does trade in a 103.00-104.00 range in the near term and potentially even into further event risks this month of the US quarterly refunding announcement (29 January) and the FOMC meeting (31 January).
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