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    USD Index could trade out something like a 103.00-104.00 range – ING

    Source Fxstreet
    January 22, 2024 09:56

    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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