DXY to pop through 104.50 towards 105.00 – ING
Source Fxstreet
The US Dollar (USD) is no rush to sell off, economists at ING say.
Short-dated interest rate differentials are moving in favour of the Dollar
As we head into the end of the quarter, one of the defining narratives remains the normalisation of monetary policy in the G10 space and the current signals that the Fed may be a late arrival. This follows last week's rate cut in Switzerland, Wednesday's Riksbank meeting near-promising a rate cut in May or June, and comments from the RBNZ Governor that New Zealand was preparing to normalise policy. As a result, short-dated interest rate differentials are moving in favour of the Dollar.
It is hard to speculate against the Dollar in the G10 space, and barring any significant quarter-end rebalancing, it feels like the greater risks are DXY popping through 104.50 towards 105.00.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter
Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday.
WTI languishes near March lows, holds above mid-$72.00s amid easing supply concernsWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – consolidates during the Asian session on Wednesday and currently trades just above mid-$72.00s, near its lowest level since early March, touched the previous day.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – consolidates during the Asian session on Wednesday and currently trades just above mid-$72.00s, near its lowest level since early March, touched the previous day.
Deutsche Bank Slashes Gold Price Forecast by 22%: Wall Street Bulls Retreat, Fed Rate Hike Expectations Become Biggest Drag Wall Street investment banks are collectively cooling on their bullish sentiment toward gold. Following Goldman Sachs ( GS) sharply cutting its gold price targets last week, Deutsche Bank
Wall Street investment banks are collectively cooling on their bullish sentiment toward gold. Following Goldman Sachs ( GS) sharply cutting its gold price targets last week, Deutsche Bank
The USD/JPY pair holds steady near 161.55 during the early Asian session on Tuesday. Progress in US–Iran peace talks and intervention fears from the Japanese authorities might cap the upside for the pair.
Related Instrument
