Strong US Retail Sales will only add to bid Dollar tone – ING
Source Fxstreet
US Dollar Index refreshes five-month highs. Economists at ING analyze Greenback’s outlook ahead of the US Retail Sales report.
DXY to extend gains to the 104.00/104.25 area
A combination of weakish China data and a pushback by both ECB and Fed officials against early easing is weighing on risk sentiment and supporting the Dollar.
It is hard to see that sentiment changing today should US December Retail Sales come in on the strong side.
It was not our baseline call on Tuesday, but the US Dollar Index (DXY) did break resistance around 103.10/103.15 (now support) and the upside bias to US rates and a mixed risk environment warns of DXY extending to the 104.00/104.25 area.
See – US Retail Sales Preview: Forecasts from nine major banks, consumers continued spending in December
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin Price Forecast: Persistent ETF inflows, easing Middle East tensions lift risk appetiteBitcoin (BTC) extends its gains, trading above $64,800 at the time of writing on Thursday, breaking above the key resistance zone. Institutional demand supports BTC price action with spot Exchange Traded Funds (ETFs) recording a third consecutive day of inflows so far this week.
Bitcoin (BTC) extends its gains, trading above $64,800 at the time of writing on Thursday, breaking above the key resistance zone. Institutional demand supports BTC price action with spot Exchange Traded Funds (ETFs) recording a third consecutive day of inflows so far this week.
AUD/USD steadies after two days of gains, trading around 0.7060 during the Asian hours on Thursday. The pair moves little as the Australian Dollar (AUD) remains silent following the release of domestic Trade Balance data.
Gold (XAU/USD) attracts buyers for the second consecutive day and surges past the $4,100 mark to hit a nearly two-week high during the Asian session on Wednesday.
Today’s Market Recap: Dow and S&P 500 Hit Fresh Record Highs, Tech Stocks Lead Gains, Palantir Surges 29%, ARM Rises Over 17%Tracking the Market TrendTradingKey - Global risk appetite rebounded significantly, with major asset classes strengthening in tandem. Driving factors included the decline in risk premiums following th
Tracking the Market TrendTradingKey - Global risk appetite rebounded significantly, with major asset classes strengthening in tandem. Driving factors included the decline in risk premiums following th
Here is what you need to know on Tuesday, August 4:
Related Instrument
