- Analytics
- News and Tools
- Market News
- DXY could drop to the 105.50/105.55 area as long as US NFP is not too strong – ING
DXY could drop to the 105.50/105.55 area as long as US NFP is not too strong – ING
EMFX surfs in a sea of green. Today's US jobs data will be key in determining whether this week's risk-positive trend has further room to run, economists at ING report.
Dollar to hand back a little further of its gains assuming no upside NFP surprises
It seems investors are starting to think that the Fed is done with rate hikes and are now starting to reduce underweight positions in risk assets, including emerging market currencies. This is Dollar negative.
Today's US jobs data will be a key determinant of whether this week's new trend has legs or will be quashed by strong hiring or wage numbers.
Assuming no upside surprises today, we favour the Dollar handing back a little further of its gains, especially against the high yielders (e.g., Mexico and Hungary) given the renewed interest in the carry trade.
DXY could drop to the 105.50/105.55 area today as long as the US jobs data is not too strong.
See – NFP Preview: Forecasts from nine major banks, employment remains fairly healthy
© 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
