High beta currencies look vulnerable in the short run – ING
Source Fxstreet
Economists at ING suspect high-beta currencies are at risk of corrections.
Room for a DXY stabilisation around 104.00 or a rebound already today
We believe high-beta currencies are looking expensive in the very short run. The prospect of unstable risk sentiment and a Dollar leg higher ahead of next week’s PCE points to downside potential.
Today, the US calendar includes the Conference Board's Consumer Confidence indicator, which is expected to have plateaued in February. We see room for a DXY stabilisation around 104.00 or a rebound already today as risk sentiment softens.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin Price Forecast: Persistent ETF inflows, easing Middle East tensions lift risk appetiteBitcoin (BTC) extends its gains, trading above $64,800 at the time of writing on Thursday, breaking above the key resistance zone. Institutional demand supports BTC price action with spot Exchange Traded Funds (ETFs) recording a third consecutive day of inflows so far this week.
Bitcoin (BTC) extends its gains, trading above $64,800 at the time of writing on Thursday, breaking above the key resistance zone. Institutional demand supports BTC price action with spot Exchange Traded Funds (ETFs) recording a third consecutive day of inflows so far this week.
AUD/USD steadies after two days of gains, trading around 0.7060 during the Asian hours on Thursday. The pair moves little as the Australian Dollar (AUD) remains silent following the release of domestic Trade Balance data.
Gold (XAU/USD) attracts buyers for the second consecutive day and surges past the $4,100 mark to hit a nearly two-week high during the Asian session on Wednesday.
Today’s Market Recap: Dow and S&P 500 Hit Fresh Record Highs, Tech Stocks Lead Gains, Palantir Surges 29%, ARM Rises Over 17%Tracking the Market TrendTradingKey - Global risk appetite rebounded significantly, with major asset classes strengthening in tandem. Driving factors included the decline in risk premiums following th
Tracking the Market TrendTradingKey - Global risk appetite rebounded significantly, with major asset classes strengthening in tandem. Driving factors included the decline in risk premiums following th
Here is what you need to know on Tuesday, August 4:
Related Instrument
