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
WTI (USOIL) is down 2.13% at Sep 22 05:55(ET), now at $89.999, with a 7-day down of 12.84%.What is driving WTI (USOIL)’s stock price down today?The retreat in US crude oil benchmark prices was primari
Bitcoin Surges to Briefly Break $87,000; Where Is the Next Key Resistance Level?On September 22, Bitcoin (BTC) strongly broke through the past month's resistance level of $82,000, surging
Bitcoin holds above $86,000 as four of five majors hit 3-month highs — why XRP is the odd one outBitcoin broke above $86,000 for the first time since late January and four of the five largest cryptocurrencies hit three-month highs — but XRP, despite leading the 24-hour gains, is the only one that failed to confirm. Roughly $900 million of leveraged positions were liquidated in 24 hours, with shorts making up 86-90% of the total.
Bitcoin broke above $86,000 for the first time since late January and four of the five largest cryptocurrencies hit three-month highs — but XRP, despite leading the 24-hour gains, is the only one that failed to confirm. Roughly $900 million of leveraged positions were liquidated in 24 hours, with shorts making up 86-90% of the total.
Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonightThe dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.
The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.
Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000.
Related Instrument
