US Dollar may struggle to extend gains without new impulse – Scotiabank
Source Fxstreet
The US Dollar (USD) is tracking a little lower overall on the session. Economists at Scotiabank analyze Greenback’s outlook.
USD gains overstate spread shift
The USD will need the support strong economic data and/or higher yields to continue advancing.
Short-term spreads have moved in the USD’s favour since mid-January but there are signs that USD gains are overstating the improvement in fundamentals.
Other factors, such as position adjustment, may be helping lift the USD tone – which suggests scope for additional USD is limited unless fresh USD-positive impulses develop
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
During the Asian session on May 26, gold prices ( XAUUSD) weakened under pressure after briefly touching the $4,580 resistance level, maintaining a weak trend intraday and potentially ent
Gold price (XAU/USD) gains ground to near $4,575 during the early Asian session on Tuesday. The precious metal edges higher as hopes for US-Iran peace negotiations weakened the US Dollar (USD).
Here is what you need to know on Monday, May 25:
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.
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.
Related Instrument
