Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.
    2021
    Best News & Analysis Provider
    FxDailyInfo
    2022
    Best Forex Educational Resources Global
    International Business Magazine

    Risks remain tilted towards some extension of the USD rebound – Scotiabank

    Source Fxstreet
    Jan 8, 2024 14:04

    The USD is steady in broad terms to start the week. Economists at Scotiabank analyze Dollar’s outlook.

    Jobs data dust settles

    Choppy USD trade Friday around the release of better-than-expected NFP but softer than forecast ISM Services data (especially employment) leaves a bit of a question mark over the near-term direction of FX, at least.

    The slide in the USD reflected weaker US yields and perhaps positioning running into the jobs report where expectations had favoured stronger data. Downward revisions to the prior months’ data also took the edge off the USD’s initial reaction to the NFP report. Still, with the dust settling after the data, the USD won back some of the ground lost and still managed to close out the week in relatively positive shape. 

    From a broader point of view, risks – reflecting seasonal trends and technical price action – remain tilted towards some extension of the broader USD rebound that developed over the turn of the year.

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
    placeholder
    US: A shutdown is looming, but little influence on the US Dollar – CommerzbankAnother shutdown is looming in the US. What does all this mean for the Dollar? Economists at Commerzbank analyze Greenback’s outlook.
    Source  Fxstreet
    Another shutdown is looming in the US. What does all this mean for the Dollar? Economists at Commerzbank analyze Greenback’s outlook.
    placeholder
    USD Index: Weekly close below 104.00 should add to negative technical pressure – ScotiabankThe US Dollar Index (DXY) is mild lift on the day. Economists at Scotiabank analyze the index outlook.
    Source  Fxstreet
    The US Dollar Index (DXY) is mild lift on the day. Economists at Scotiabank analyze the index outlook.
    placeholder
    USD moving lower on Fed cuts is more a Q2 trade now – TDSConsumer price inflation exceeded consensus expectations again in the US.
    Source  Fxstreet
    Consumer price inflation exceeded consensus expectations again in the US.
    goTop
    quote