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.
Recommended Articles
Gold Price Forecast: XAU/USD flat lines near $4,200 ahead of US PCE inflation releaseGold price (XAU/USD) trades on a flat note near $4,205 during the early Asian trading hours on Friday. Rising US Treasury yields and upbeat US jobs data cap upside for the precious metal. Traders might prefer to wait on the sidelines ahead of the key US inflation data.
Gold price (XAU/USD) trades on a flat note near $4,205 during the early Asian trading hours on Friday. Rising US Treasury yields and upbeat US jobs data cap upside for the precious metal. Traders might prefer to wait on the sidelines ahead of the key US inflation data.
Bitcoin consolidates above $92,000 and the 100-hour SMA as traders eye a breakout toward $96,450 or a potential retracement to $90,500 support.
Bitcoin experiences significant volatility, dropping toward $87,000 ahead of a crucial Federal Reserve interest-rate decision.
EMJ Capital CEO Eric Jackson predicts Bitcoin could hit $50 million by 2041, arguing it will replace the Eurodollar system as the neutral collateral layer for global sovereign debt.
Gold Price Forecast: XAU/USD edges lower below $4,200 amid worries about hawkish Fed rate cutGold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
Gold Price (XAU/USD) trades in negative territory around $4,195 during the early Asian session on Tuesday. The precious metal edges lower amid concerns that the US Federal Reserve (Fed) will adopt a hawkish tone in its rhetoric, despite delivering a rate cut on Wednesday.
