Heightened uncertainty should support the USD over the near term – HSBC
Source Fxstreet
The 2024 US presidential and congressional elections are scheduled for 5 November. Strategists at HSBC list out some key dates to watch, together with moving parts that could impact the US Dollar.
Likely implications of US elections for the USD appear mixed
The multiple channels of influence mean the election can impact the USD in various ways, ensuring it cannot be ignored, even if the takeaways from each element end up creating a mixed picture for the USD. However, it is also important to remember that the USD’s path is not only determined by the election and that politics is just one part of the equation.
In summary, likely implications of US elections for the USD appear mixed, but, for now, we expect heightened uncertainty to support the USD.
Source: HSBC forecasts
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
The Silver price (XAG/USD) tumbles to around $42.05 during the Asian trading hours on Wednesday.
Bitcoin (BTC) could be poised for a price surge following its positive correlation with the S&P 500, as market participants anticipate a 25-basis-point rate cut from the Federal Reserve on Wednesday.
Gold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
The US Federal Reserve is expected to cut the policy rate for the first time in 2025.
Related Instrument
