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
Kevin Hassett, White House National Economic Council Director, is poised to succeed Jerome Powell as the next Federal Reserve Chair. This development signals a potentially more dovish mon
Avalanche (AVAX) consolidates above $14.00 after an 8% breakout, but with open interest below $600 million and key resistance at $17.14 looming, traders remain cautious.
Historical patterns indicate that low BandWidth levels often precede significant BTC price increases.
The AUD/USD pair prolongs its strong uptrend witnessed over the past two weeks or so and advances to a fresh high since late October during the Asian session on Thursday.
Solana Price Forecast: ETF Demand and Derivatives Flows Fuel a Sharper ReboundSolana (SOL) trades above $140 after a 10% daily jump, as ETF inflows flip positive, futures open interest climbs 6.75% and on-chain TVL and stablecoin liquidity rise, setting up a potential double-bottom breakout toward the 50-day EMA at $158 if SOL can secure a daily close above $145.
Solana (SOL) trades above $140 after a 10% daily jump, as ETF inflows flip positive, futures open interest climbs 6.75% and on-chain TVL and stablecoin liquidity rise, setting up a potential double-bottom breakout toward the 50-day EMA at $158 if SOL can secure a daily close above $145.
