- Analytics
- News and Tools
- Market News
- Dollar’s drop might have come far enough for the time being – ING
Dollar’s drop might have come far enough for the time being – ING
The Dollar is hovering near recent lows. Economists at ING analyze USD outlook.
Don’t chase the Dollar bear trend
While acknowledging that November and December are seasonally soft months for the dollar, our view is that this Dollar sell-off has come a little early.
We are bearish on the Dollar through 2024 but expect the core driver to be a bullish steepening of the US Treasury curve – which has not happened yet. Indeed, US two-year Treasury yields remain firm near 5%. We thus urge caution in chasing this Dollar decline much further.
Until we get some clear dovish communication from the Fed or US data is materially weak enough, we think this Dollar drop might have come far enough for the time being and suspect that the 103.00/103.50 support area could well hold the DXY this week.
© 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
