The US Dollar has room to recover in the coming days – ING
Source Fxstreet
Economists at ING continue to see short-term upside potential for the US Dollar (USD).
DXY to return above the 103.00 mark by the end of this week
We think the Dollar has room to recover in the coming days. At the same time, we must admit that markets have displayed an asymmetrically dovish reaction function to US data, and today’s releases – February retail sales, PPI and jobless claims – can all add pressure to the Dollar should they print on the soft side.
Our call remains for a return of DXY above the 103.00 mark by the end of this week, with further short-term upside potential unless US data softens.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.
Here is what you need to know on Wednesday, June 3:
Bitcoin drops below $65K amid reinforced bear market signalsBitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
Bitcoin (BTC) dipped further below $65,000 on Wednesday, with onchain data from Glassnode signaling a market firmly in a bear phase. The decline has pushed prices back into a key valuation range between the Realized Price and the True Market Mean.
Related Instrument
