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.
Recommended Articles
Bitcoin shows strong correlation with institutional demand following 7% uptickBitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
Bitcoin's price has largely tracked net institutional demand over the past year, according to Bitwise. Net institutional demand is the buying activity of global exchange-traded products (ETPs) and treasury companies minus new supply.
Silver price corrects almost 6% to near $86.50 during the Asian trading session on Thursday.
Standard Chartered lifts Ethereum call to $7,500, arguing institutional demand could leave Bitcoin trailingStandard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Standard Chartered raised its year-end Ethereum target to $7,500 (from $4,000), citing institutional demand, while projecting $25,000 by 2028 and scenarios toward $40,000 by 2030 amid ETF- and treasury-driven accumulation.
Despite higher-than-expected Producer Price Index (PPI) inflation data for November, Bitcoin surged to new eight-week highs, diverging from US stock markets.
Bitcoin nears two-month highs with key indicators signaling potential for further gains as it targets $101,000.
Related Instrument
