US Dollar rebound has more room to go until data worsens – MUFG
Source Fxstreet
USD rebound is unfolding given the richness of US rates curve. Economists at MUFG Bank analyze Greenack’s outlook.
EUR/USD could move back down to around the 1.06/1.07 area in February
While inflation is falling quite quickly now for the FOMC to cut we will need to see some clearer evidence of a deteriorating labour market that would prompt increased fears of recession. That of course may well come in either the February or March payrolls reports but if not in February we may well see a full retracement of the EUR/USD rally in November/December, taking spot back down to around the 1.06/1.07 area.
The Dollar sell-off into year-end looked overdone and hence there remains scope for further USD strength, especially on days like Tuesday when we see bigger jumps in yields.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Nine spot Ethereum ETFs commenced trading on the US stock market on Tuesday, marking a pivotal moment for the crypto industry following the Securities and Exchange Commission’s (SEC) green light on Monday.
Investing.com -- Sooner Federal Reserve rate cuts may not be enough to stop the central bank from falling behind the curve, throwing the economy and the current stock bull market into a wreck. The ris
Ethereum whales have been busy in the market, as on-chain data shows that these investors have been heavily accumulating the second-largest crypto token by market cap.
Related Instrument
