DXY looks set to trade in a 100.00-110.00 range – SocGen
Source Fxstreet
The US Dollar Index (DXY) has inched higher as market pricing of Fed easing in 2024 has been downgraded. Economists at Société Générale analyze Greenback’s outlook.
The Fed is unlikely to ease dramatically
The US economy appears to have escaped a recession, and while that won’t stand in the way of monetary policy easing in 2024, it means that the Fed is unlikely to ease dramatically, reducing downward pressure on the USD.
Irrespective of the actual policies that might be adopted by Trump or Biden presidencies (not to mention the possibility that one or the other may not be on the ballot come November), increased uncertainty and increased tail risks will probably be USD supportive.
DXY looks set to trade in a 100.00-110.00 range.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide
Anthropic files for a $2 trillion IPO — the $80.7 billion loss is the decoy, the $450 billion compute bill is the riskAnthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.
Tesla jumps 5% as Barclays puts a $450 target on the SpaceX merger — the chart was already pointing to 431Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.
Euro weakens below 1.1200 as traders brace for Fed, ECB rate decisionsThe EUR/USD pair extends the decline near 1.1170 during the early Asian trading hours on Tuesday, pressured by risk-off sentiment. Markets might turn cautious later in the day ahead of the US Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions later this week.
The EUR/USD pair extends the decline near 1.1170 during the early Asian trading hours on Tuesday, pressured by risk-off sentiment. Markets might turn cautious later in the day ahead of the US Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions later this week.
Bitcoin falls below the $80,000 mark as the October FOMC decision approaches, threatening a further dip toward $75,000.On October 26, Bitcoin (BTC) again lost the key psychological mark o
Related Instrument
