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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Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday.
Here is what you need to know on Monday, May 25:
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