US Dollar to depreciate over the course of 2024 – Wells Fargo
Source Fxstreet
Economists at Wells Fargo forecast US Dollar depreciation as 2024 progresses, and into 2025.
Further depreciation in the US Dollar through 2025
While we expect the US to avoid recession, Fed easing and slower economic growth should still weigh on the Greenback as the year progresses.
For the Fed's US Dollar Index against the advanced foreign economies, we see a depreciation of 2.8% over the rest of 2024.
A relatively benign global growth environment that supports broader financial market sentiment could also lessen safe-haven support for the Greenback, contributing to moderate US Dollar losses this year and next.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
TradingKey - When it comes to US economic data, the Nonfarm Payrolls (NFP) is indeed one of the most significant indicators. This employment report, covering more than 90% of the employed population i
Gold price attracts some buyers near the $3,312-3,311 region during the Asian session on Monday and fills a modest bearish gap opening amid subdued USD price action.
Solana (SOL) price extends its recovery, trading above $192 at the time of writing on Monday, after rebounding from the ascending trendline support last week.
Silver (XAG/USD) builds on the previous day's positive move and gains strong follow-through traction for the second straight day on Tuesday.
Related Instrument
