A bit more USD strength seems more likely than not in the coming weeks – Scotiabank
Source Fxstreet
The US Dollar (USD) is poised to notch up a solid gain on the week. Economists at Scotiabank analyze Greenback’s outlook.
The underlying trend remains USD positive in general
The underlying trend remains USD positive in general and a bit more USD strength overall seems more likely than not in the coming weeks.
Fed repricing, USD bullish seasonal trends and supportive medium term technical pointers all suggest that the US Dollar is likely to strengthen or at least remain better supported for now.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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The USD/JPY pair is seen consolidating in a narrow band around mid-159.00s during the Asian session on Tuesday as traders opt to wait for the crucial Bank of Japan (BoJ) before placing fresh directional bets.
Gold price (XAU/USD) holds steady near $4,600 during the early Asian session on Wednesday. The precious metal steadies as traders await a key Federal Reserve (Fed) interest rate decision later on Wednesday.
Goldman Sachs ( GS) 's latest precious metals research report on gold ( XAUUSD) price trends presents a "structurally bullish, tactically cautious" dual outlook, maintaining its year-end
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