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- AUD and NZD are the only G10 currencies to go on struggling against the Dollar – SocGen
AUD and NZD are the only G10 currencies to go on struggling against the Dollar – SocGen
Goldilocks is having her day in the sun. Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes FX outlook.
AUD and NZD to be weighed down by Chinese growth concerns
I think the fall in US inflation, while the US labour market remains tight and the economy continues to be supported by households spending savings accumulated in the COVID lockdowns, complicates the outlook, for the economy, the Fed and the Dollar. But it’s clear that for many (which will soon mean, the consensus) there’s a simple conclusion: Inflation has been defeated far more painlessly than feared or predicted by doom-mongering economists!
On we go to US Retail Sales and Industrial Production data this week, but it’ll take a shock to stall Goldilocks’ momentum.
The only G10 currencies which are likely to go on struggling against the Dollar, are AUD and NZD, weighed down by Chinese growth concerns, for now. What those concerns may do, is support AUD and NZD volatility, relative to the rest of the G10 currencies.
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