The recovery in the USD has a bit more to go – Scotiabank
Source Fxstreet
The US Dollar (USD) is narrowly mixed in quiet trade. Economists at Scotiabank analyze Greenback’s outlook.
Potential for the USD to recover more of its Q4 decline
The USD still appears to be consolidating after its early January rebound.
The recovery in the USD has a bit more to go as US short-term yields reprice March FOMC risks but markets need a catalyst to drive more decisive movement.
Recall that the USD may also find support from bullish seasonal trends while longer-term technical signals suggest potential for the USD to recover more of its Q4 decline.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
EUR/USD Forecast: Euro weakens as risk mood soursEUR/USD struggles to find a foothold and trades at a fresh weekly low below 1.1850 after closing in negative territory on Monday. In the absence of high-impact data releases, the risk-averse market atmosphere could make it difficult for the pair to stage a rebound.
EUR/USD struggles to find a foothold and trades at a fresh weekly low below 1.1850 after closing in negative territory on Monday. In the absence of high-impact data releases, the risk-averse market atmosphere could make it difficult for the pair to stage a rebound.
Gold (XAU/USD) attracts some follow-through selling for the second straight day and slides to the $4,922 area during the Asian session on Tuesday amid thin liquidity on the back of the Lunar New Year holidays in China.
Gold price (XAU/USD) extends its losses for the second successive session, trading around $4,930 per troy ounce during the Asian hours on Tuesday.
Silver price retreats during the North American session nearly 1%, after reaching a daily high of $78.20.
The fourth-quarter earnings season for U.S. stocks is drawing to a close. With market participation continuing to rise, the U.S. stock market has entered a new normal with an average dail
Related Instrument
