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- US Dollar Index: Reaching 110.00 in the coming days is still a tangible possibility – ING
US Dollar Index: Reaching 110.00 in the coming days is still a tangible possibility – ING
The ADP report had been temporarily discontinued after the May release, and will now resume with an updated methodology and a wider range of data. All in all, economists at ING expect the US Dollar Index (DXY), which continues to move sideways below 109.00, to reach the 110.00 level in the coming days.
Eyes on new ADP methodology
“It will be interesting to see whether the alleged higher accuracy of the new APD index will trigger a larger-than-normal market reaction.”
“We think the dollar direction today may mostly hang on ADP figures, although the underlying narrative should continue to be a moderately bullish one if nothing else because the two major alternative markets to the US one – Europe and China – remain broadly unattractive despite the partial easing in gas prices and a slump in Chinese PMIs proved not as bad as expected this morning.”
“DXY reaching 110.00 in the coming days is still a tangible possibility.”
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