FXStreet reports that in the view of economists at Westpac, the 94.50 level is an achievable three-month target for the US Dollar Index.
“The USD and US yields have priced in the initial stages of the reopening and stimulus fuelled rebound – the marquee payrolls and ISM reports for March topped even the most bullish forecasts (net of revisions), yet yields and the DXY are net steady since mid-March. But the rebound is only just hitting its stride and yet more dramatic upside surprises across a sweep of key data are likely in coming months.”
“Fed messaging continues to underscore that there will be no hasty retreat from accommodative policy. As long as 91.50 holds, DXY’s uptrend should resume, an eventual return to the 2020Q3 highs in the 94.50 zone an achievable target.”
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.