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- Powell's second hawkish attempt can support the Dollar – ING
Powell's second hawkish attempt can support the Dollar – ING
The Dollar is regaining ground as markets position themselves for a hawkish tone from FOMC Chairman Jerome Powell. In the view of economists at ING, the Dollar recovery may run a little longer.
The Dollar comeback hinges on Powell, again
“It looks like markets have already positioned themselves for some pushback against easing rate expectations, but the surprise strength of the US jobs report gives Powell ample room to sound more hawkish than expected. Ultimately, the ongoing upward correction may run a little longer before losing steam.”
“The overall environment is doing little to lure markets back into risk assets and away from the safe-haven Dollar. US-China tensions are a source of concerns and likely weighing on global sentiment, and the eurozone cannot count on a supportive data flow to keep the growth re-rating process going.”
“It looks like only another under-delivery (i.e. dovish surprise) by Powell can hurt the Dollar today.”
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