USD Index could trade out something like a 103.00-104.00 range – ING
Source Fxstreet
The Dollar looks to be trading in a supported fashion. Economists at ING analyze USD outlook.
Dollar can stay supported
For the Dollar this week, our macro team forecasts above-consensus fourth quarter GDP on Thursday. Decent fourth quarter US GDP data could see US interest rates back up a little further, keeping the Dollar supported.
We would say it looks like a range-bound week for the Dollar where DXY could trade out something like a 103.00-104.00 range. That will continue to see the market interested in carry, and we note that the Turkish Lira and the Indian Rupee have still managed to deliver year-to-date total positive returns against the Dollar – in a broadly bid USD environment.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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AUD/USD holds ground near 0.6700 due to cautious RBA toneAUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
AUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
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