USD gains will be vulnerable to weaker than expected economic outcomes – Scotiabank
USD regains momentum in quiet trade. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes the Grenback’s outlook.
Gains in the US Dollar Index look hugely overextended
A 12th successive net weekly gain for the DXY – which positive price action so far this week suggests is possible – looks hugely overextended to me still, however.
There is a lot of US data ahead this week, including today’s ISM Manufacturing data. USD gains will be vulnerable to weaker-than-expected economic outcomes.
See: DXY to stay bid in the 106-107 range this week – ING
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