- Analytics
- News and Tools
- Market News
- USD Index: Gains are still likely to struggle in the upper 102 area – Scotiabank
USD Index: Gains are still likely to struggle in the upper 102 area – Scotiabank
USD gains on weak risk mood. Economists at Scotiabank analyze Greenback’s outlook.
USD firmer as stocks slump on banks, Italian windfall tax, weak China trade
Soft risk sentiment continues to overshadow the FX market. News of weaker Chinese trade data weighed on Asian market sentiment and commodity prices, adding to headwinds from Monday’s (Moody’s) downgrade of US regional banks' credit ratings. Additional pressure on stocks came from a decision in Italy to impose a windfall tax on domestic bank profits.
The USD is trading broadly higher, reversing some of the losses made around the cooler jobs data in the US last week. Gains in the DXY are still likely to struggle in the upper 102 area, assuming the risk backdrop does not deteriorate significantly further.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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 pr@teletrade.global.
Bank transfers
