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- USD usually retraces on Wednesdays, advances on Thursdays and Fridays – BofA
USD usually retraces on Wednesdays, advances on Thursdays and Fridays – BofA
Analysts at the Bank of America Global Research examine the seasonality trade for the USD in 2022. They note that the greenback tends to gain on Thursdays and Firdays while it retraces on Wednesdays.
USD is still advancing on Mondays, but even more so at end of the week
"In 2022, the USD is still advancing on Mondays, but even more so at end of the week on Thursdays and Fridays. Cumulative USD return for Thursdays and Fridays are respectively 1.9% and 2.2% in 2022."
"Retracement for the year-to-date USD rally has occurred more on Wednesday, with larger USD retracements during the FOMC Wednesdays. Investors are likely ‘selling-the fact’ on FOMC meetings days, but quickly re-engage with the risk-off USD demand as uncertainty remains elevated."
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