In quiet markets, the US Dollar (USD) is coming slightly lower. Economists at ING analyze Greenback’s outlook.
DXY set to stay confined to something like a 103.80-104.40 range
Currently, the market prices around 90 bps of Fed easing this year. We suspect the Fed's own forecasts – 75 bps of 2024 easing – will be the minimum amount of easing the market will now price. And that is why, we think investors and corporates should use Dollar strength this month to position for lower levels later in the year.
We have been saying this week that a low volatility environment means that breakouts should not be chased. So let's see whether DXY stays confined to something like a 103.80-104.40 range.
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.
Hot
No comment on record. Start new comment.