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
Societe Generale’s commodities team has revised its Oil outlook, warning Brent could spike towards $150/bbl in a higher‑for‑longer scenario if the Strait of Hormuz is shut for two months.
AUD/USD halts its five-day losing streak, trading around 0.6860 during the Asian hours on Tuesday. The pair advances as the Australian Dollar (AUD) receives support after the Reserve Bank of Australia released its March Meeting Minutes.
As of March 30, the US Dollar against the Japanese Yen ( USDJPY) continues to fluctuate at high levels near the 160 mark, with the Yen having fallen to a nearly one-year low. Expectations
Gold Price Forecast: XAU/USD opens lower around $4,450 on fears of widening Iran conflictsGold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.
Gold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.
Seesaw Effect Continues. US Pre-Market Three Major Index Futures Weaken, Oil Prices Rise, Bitcoin Drops Below 68,000 MarkAgainst a backdrop of intertwined geopolitical risks and macroeconomic uncertainty, global market sentiment has repeatedly diverged. In Friday pre-market trading ET, the three major U.S.
Against a backdrop of intertwined geopolitical risks and macroeconomic uncertainty, global market sentiment has repeatedly diverged. In Friday pre-market trading ET, the three major U.S.
Related Instrument
