US Dollar: There is no compelling bearish story for the next week or so – ING
Source Fxstreet
The US Dollar (USD) is still on top across G10 and EM FX. Economists at ING analyze Greenback’s outlook.
Dollar can stay broadly supported into the 31 January FOMC
We think the Dollar can consolidate after the recent gains, continuing to draw some benefits from Christopher Waller’s remarks earlier this week, which may have led markets to favour defensive positions heading into the FOMC on 31 January.
The only key data release in the US before then is the fourth quarter GDP figures next week, and barring major surprises there, there is no compelling bearish story for the next week or so.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Here is what you need to know on Thursday, August 13:
WTI declines below $82.50 as oil inventories rise far more than expectedWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
During Wednesday's Asian trading session, spot gold (XAUUSD) extended its rebound, reclaiming $4,400/oz. As of 11:08 Beijing time on August 12, spot gold was trading at $4,414.705/oz, up
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